Illinois Life Insurance

SaveOnLifeInsuranceNow.com is a life insurance comparison website offering multiple quotes from the top life insurers in all 50 states. Over 570 life insurance companies are licensed to issue cheap life insurance policies in Illinois, generating approximately 40,000 of jobs in the state. 70 companies are domiciled in the state. Life insurance companies provide $15 billion in mortgage loans and own $2 billion in real estate in Illinois.

There are approximately 7 million individual life insurance policy holders in the state. The median coverage is about $110,000 per policyholder. Group life insurance coverage amounts to $520 billion. Illinois residents were paid $20 billion was paid in dividends, benefits, and other payments in 2008.

Illinois Life Insurance Regulations

Act 5 of the Illinois Insurance Code regulates the insurance industry in the state. The ten-day “free look” period is included in every cheap life insurance policy. Life insurance are given 30 days to deny or pay the claim once it’s been submitted. Claims procedures should be clearly stated in the policy. Misrepresentation by a policyholder or applicant can be considered fraud and prosecuted.

Illinois Health Facts

There are more than 12 million residents in Illinois. 14% of the population is uninsured. Median annual income is $53,000. More information about state demographics, economy, health costs, and insurance coverage can be found at www.cdc.gov

The state ranks 33 out of 50 for life expectancy at birth. The life expectancy is 76 years in Illinois. The data was taken from the American Human Development Report (2008-2009). Compare cheap life insurance policies at SaveOnLifeInsuranceNow.com online. Find affordable Illinois life insurance today.

Illinois Department of Insurance

320 West Washington Street

Springfield, Illinois 62767-0001

Web site: http://insurance.illinois.gov

Phone: (217) 782-4515

Fax: (217) 782-5020