Illinois is home to a wide array of life insurance companies that help individuals and families secure their financial futures. This sector includes major players, independent agencies, and online platforms, offering policies that range from traditional term and whole life insurance to innovative products that include living benefits. The industry is also shifting towards technology-driven solutions, increasing customers' access to personalized insurance options. An interesting trend is the growing focus on health and wellness, which encourages insurers to integrate these services with life plans, reflecting a broader understanding of holistic financial protection.


The companies listed feature a mix of large-scale operations like State Farm and smaller family-owned agencies such as Snyder Insurance Agency. Headquartered in key cities across Illinois, these firms vary in age, with roots spanning from 1904 to 2021, indicating a longstanding tradition in the insurance sector. Their specialized offerings include a range of life insurance products, from standard policies to supplemental health solutions, underscoring the industry’s adaptability and responsiveness to client demands.


Read on to discover more about the top life insurance companies in Illinois.


Top 20 Life Insurance Companies in Illinois


1. State Farm

  • Website: statefarm.com
  • Ownership type: Private
  • Headquarters: Bloomington, Illinois, United States (USA)
  • Employee distribution: United States (USA) 100%
  • Founded year: 1922
  • Headcount: 10001+
  • LinkedIn: state_farm

State Farm Insurance, founded in 1922 and headquartered in Bloomington, Illinois, is a prominent insurance and financial services provider. The company offers a wide array of insurance products, including auto, home, life, and health insurance, along with investment services. With over 106,000 employees, State Farm serves individuals, families, and small businesses, helping them protect their assets and manage risks effectively. In the life insurance sector, State Farm provides various options, including term life, whole life, and universal life policies, catering to the needs of its customers. The company emphasizes personalized service, with a network of approximately 19,000 agents ready to assist clients in selecting the right coverage. State Farm's long-standing reputation and commitment to customer service position it as a relevant and reliable choice in the life insurance market.


2. LifeQuotes.com

  • Website: lifequotes.com
  • Ownership type: Corporate
  • Headquarters: Chicago, Illinois, United States (USA)
  • Employee distribution: United States (USA) 100%
  • Latest funding: January 2024
  • Founded year: 1984
  • Headcount: 51-200
  • LinkedIn: life-quotes-inc.

LifeQuotes.com, founded in 1984 and based in Chicago, Illinois, operates as an insurance agency that specializes in a variety of insurance products, prominently including life insurance. The company serves individual consumers, helping them navigate the complexities of insurance coverage to find solutions that best fit their needs. LifeQuotes.com offers personalized quotes and consultations, allowing clients to compare rates from over 50 different life insurance companies. This extensive selection ensures that customers can find competitive pricing and suitable coverage options. The agency prides itself on its customer service, as evidenced by numerous positive reviews and an A+ rating from the Better Business Bureau, which it has maintained for over a decade. LifeQuotes.com has also been recognized for its informative resources, providing articles and insights that help consumers understand their insurance options better.


3. AccuQuote

  • Website: accuquote.com
  • Ownership type: Corporate
  • Headquarters: Schaumburg, Illinois, United States (USA)
  • Employee distribution: United States (USA) 100%
  • Latest funding: December 2021
  • Founded year: 1986
  • Headcount: 201-500
  • LinkedIn: accuquote

AccuQuote, founded in 1986 and based in Schaumburg, Illinois, operates as an insurance broker specializing in life insurance products. The company provides a comprehensive array of life insurance options, including term life, whole life, universal life, and accidental death insurance, among others. AccuQuote's primary function is to offer consumers the ability to compare quotes from various insurance carriers, ensuring they find suitable coverage tailored to their needs. The company emphasizes customer education through tools and resources, such as calculators and FAQs, to help clients understand their insurance options better. With a workforce of approximately 181 employees, AccuQuote maintains a strong focus on customer service, as reflected in numerous positive testimonials. The company is licensed to operate in all 50 states, reinforcing its commitment to serving a broad customer base. AccuQuote has not reported any recent funding, indicating it operates independently within the market.


4. Combined, a Chubb Company

  • Website: combinedinsurance.com
  • Ownership type: Corporate
  • Headquarters: Chicago, Illinois, United States (USA)
  • Employee distribution: United States (USA) 66%, Canada 32%, Other 2%
  • Latest funding: January 2021
  • Founded year: 1922
  • Headcount: 5001-10000
  • LinkedIn: combined-insurance

Combined Insurance Company of America, a Chubb company, is an insurance provider based in Chicago, Illinois, with a history dating back to 1922. The company specializes in supplemental health, accident, disability, and life insurance products, catering to individuals, families, and businesses. With a workforce of over 5,000 employees, Combined Insurance operates primarily in the United States and Canada, offering tailored insurance solutions that address coverage gaps and financial insecurities related to health issues. The company is recognized for its commitment to making supplemental insurance easy to understand and accessible. It has received an A+ (Superior) financial strength rating from AM Best, reflecting its robust financial standing. Combined Insurance has also been acknowledged as a top military-friendly employer, showcasing its dedication to supporting military veterans and their families. The company operates under the Chubb brand, which enhances its credibility and reach in the insurance market.


5. Mutual Trust Life Insurance Company


Mutual Trust Life Insurance Company, based in Oak Brook, Illinois, has been a player in the life insurance industry since its inception in 1904. The company specializes in providing life insurance products and related financial services, aiming to offer policy management and claims processing to individuals seeking financial security. With a workforce of approximately 123 employees, Mutual Trust is structured as a corporate entity and operates under the umbrella of the Pan-American Life Insurance Group. This affiliation enhances its operational capabilities and market reach. The company emphasizes the importance of privacy and data protection, ensuring that customer information is handled with care. Mutual Trust's commitment to customer service is evident in its online policy management tools, which allow policyholders to manage their accounts conveniently. Overall, Mutual Trust Life Insurance Company is dedicated to safeguarding the financial interests of its clients through its tailored insurance solutions.


6. Illinois Mutual

  • Website: illinoismutual.com
  • Ownership type: Family Owned
  • Headquarters: Peoria, Illinois, United States (USA)
  • Employee distribution: United States (USA) 100%
  • Founded year: 1910
  • Headcount: 51-200
  • LinkedIn: illinois-mutual

Illinois Mutual Life Insurance Company, based in Peoria, Illinois, has been a provider of insurance solutions for over a century. Founded in 1910, this family-owned business has maintained a strong focus on life and disability income insurance. The company operates in 47 states, primarily serving the middle market, and prides itself on exceptional customer service and community engagement. Illinois Mutual offers a range of products, including term life, whole life, and disability income insurance, designed to help individuals and families achieve financial security. Their commitment to policyowners is reflected in their mutual company structure, which prioritizes the needs of policyholders over shareholders. With a solid A- (Excellent) rating from AM Best, Illinois Mutual demonstrates financial strength and stability, ensuring they can support their policyowners when needed. The company also emphasizes innovation and continuous improvement in their services, as evidenced by enhancements to their online platforms for policy management and agent support.


7. Everlake Life

  • Website: everlakelife.com
  • Ownership type: Private Equity
  • Headquarters: Northbrook, Illinois, United States (USA)
  • Employee distribution: United States (USA) 100%
  • Latest funding: $2.8B, December 2021
  • Founded year: 2021
  • Headcount: 51-200
  • LinkedIn: everlakelife

Everlake Life Insurance Company, based in Northbrook, Illinois, is a private equity-owned insurance provider that specializes in life insurance and annuities. Founded in 2021, the company emerged from the acquisition of Allstate Life Insurance Company, which has been serving customers since 1957. Everlake Life aims to offer financial products that provide security and peace of mind to individuals and families, particularly during significant life events. With over 1.6 million policies in force and more than $23 billion in assets under management, Everlake Life leverages its historical roots and financial strength to deliver quality service and policy solutions. The company has also been recognized for its operational performance, receiving an A (Excellent) rating from AM Best, which underscores its commitment to maintaining a robust financial position in a competitive market.


8. Northwest Insurance Network


Northwest Insurance Network, established in 1958, is an independent insurance agency based in Chicago, Illinois. With a workforce of approximately 40 employees, the agency has grown to become one of the oldest and fastest-growing insurance providers in the Chicago area. They offer a comprehensive range of insurance products, including auto, home, business, and life insurance. The agency prides itself on its ability to tailor insurance solutions to meet the unique needs of both individual consumers and businesses. Northwest Insurance Network collaborates with over 60 different carriers, allowing them to provide competitive coverage options and pricing. Their commitment to customer service is evident in their approach, which emphasizes personalized support and guidance throughout the insurance process. The agency also engages in community outreach and education, helping clients navigate various life events that may impact their insurance needs.


9. Loman-Ray Insurance Group, LLC


Loman-Ray Insurance Group, LLC, based in Champaign, Illinois, has been serving clients since 1981. This family-owned insurance agency provides a wide array of insurance products, including home, auto, health, commercial, life, and farm insurance. With a team of approximately 35 employees, Loman-Ray focuses on delivering tailored insurance solutions to both individuals and businesses. Their life insurance offerings include individual and group policies, long-term care insurance, and mortgage protection insurance, among others. The agency prides itself on a holistic approach to insurance, ensuring that clients receive comprehensive coverage that aligns with their unique needs. Loman-Ray's commitment to customer service and community engagement has solidified its reputation as a trusted insurance partner in Central Illinois.


10. Dearborn Group

  • Website: mydearborngroup.com
  • Ownership type: Private
  • Headquarters: Lombard, Illinois, United States (USA)
  • Employee distribution: United States (USA) 100%
  • Founded year: 1969
  • Headcount: 1001-5000
  • LinkedIn: mydearborn-group

Dearborn Group, based in Lombard, Illinois, has been a prominent insurance provider since its inception in 1969. The company specializes in a variety of insurance products, including life, disability, and vision insurance. They cater to both businesses and individuals, emphasizing financial protection and support services tailored to meet customer needs. Their offerings include not only life insurance but also critical illness and accidental death coverage, showcasing their commitment to comprehensive financial security. As a subsidiary of Health Care Service Corporation (HCSC), Dearborn Group integrates health and wellness into their insurance solutions, ensuring that their products complement existing medical coverage. Their focus on customer feedback and innovative solutions positions them as a relevant player in the insurance industry.


11. Snyder Insurance Agency

  • Website: insurewithsnyder.com
  • Ownership type: Family Owned
  • Headquarters: Bloomington, Illinois, United States (USA)
  • Employee distribution: United States (USA) 100%
  • Founded year: 1906
  • Headcount: 11-50
  • LinkedIn: snyder-insurance-agency_2

Snyder Insurance Agency, established in 1906, is a family-owned insurance agency based in Bloomington, Illinois. The agency provides a wide range of insurance products, including homeowner, renters, auto, life, and commercial insurance. With a commitment to customer service, Snyder Insurance aims to build strong relationships with its clients, offering tailored insurance solutions to meet individual and business needs. The agency operates multiple locations across Illinois and Tennessee, serving clients with a focus on personalized service and risk management. Snyder Insurance is part of Tentac Enterprises, which enhances its operational capabilities and market reach. The agency prides itself on its knowledgeable team, which is dedicated to educating clients about their insurance options and ensuring they have the coverage necessary to protect their assets.


12. Kuvare Holdings

  • Website: kuvare.com
  • Ownership type: Private Equity
  • Headquarters: Rosemont, Illinois, United States (USA)
  • Employee distribution: United States (USA) 100%
  • Latest funding: March 2016
  • Founded year: 2015
  • Headcount: 201-500
  • LinkedIn: kuvare-holdings

Kuvare Holdings, based in Rosemont, Illinois, is an insurance and financial services provider that specializes in retirement-focused solutions. Established in 2015, the company aims to simplify the complexities of retirement for everyday Americans. Kuvare offers a range of products, including life insurance and annuities, through its retail insurance carriers, Guaranty Income Life and United Life. Both of these carriers are recognized for their financial strength, holding an A- Excellent rating from AM Best. In addition to retail insurance, Kuvare also provides reinsurance solutions and investment management services, catering to both consumers and financial professionals. The company emphasizes a technology-driven approach, utilizing a cloud-based platform to enhance customer service and streamline distribution processes. With a workforce of around 381 employees, Kuvare is positioned to support sustainable growth opportunities in the insurance sector.


13. Lr Windsor

  • Website: lrwindsor.com
  • Ownership type: Private
  • Headquarters: Chicago, Illinois, United States (USA)
  • Employee distribution: United States (USA) 100%
  • Founded year: 2003
  • Headcount: 11-50
  • LinkedIn: lr-windsor

Lr Windsor, based in Chicago, Illinois, is an independent insurance agency that has been operational since 2003. The agency specializes in a wide array of insurance services, including personal, business, life, and health insurance. With a dedicated team of 19 employees, Lr Windsor focuses on building strong relationships with clients, ensuring that their insurance needs are met through customized solutions. The agency serves both individual consumers and businesses, helping them navigate the complexities of risk management. Lr Windsor's offerings in life insurance include individual life policies, disability insurance, long-term care insurance, and final expense insurance, reflecting its commitment to comprehensive client care. The agency has not reported any funding, indicating it operates as a self-sustained entity. Its local presence and focus on community engagement further enhance its relevance in the insurance market.


14. ELCO Mutual Life and Annuity

  • Website: elcomutual.com
  • Ownership type: Private
  • Headquarters: Lake Bluff, Illinois, United States (USA)
  • Employee distribution: United States (USA) 100%
  • Founded year: 1946
  • Headcount: 51-200
  • LinkedIn: elco-mutual-life-and-annuity

ELCO Mutual Life and Annuity, based in Lake Bluff, Illinois, has been serving the insurance needs of individuals and families since its inception in 1946. The company specializes in life insurance and annuity products, aiming to help clients secure their financial futures through tailored financial planning. Their product lineup includes single premium whole life insurance, final expense insurance, and various annuities, such as flexible premium deferred annuities and Medicaid compliant annuities. ELCO Mutual prides itself on its customer service, with a focus on building strong relationships with agents and policyholders alike. The company has demonstrated its financial strength by paying out over $427 million in benefits in 2022, showcasing its commitment to fulfilling its obligations to policyholders. With a dedicated team and a history of stability, ELCO Mutual continues to be a relevant player in the life insurance industry.


15. The Lubin-Bergman Organization, Inc.


The Lubin-Bergman Organization, Inc., based in Northbrook, Illinois, is an insurance agency that has been serving clients since 1923. With a team of 11 to 50 employees, the company specializes in a wide array of insurance services, including business insurance, employee benefits, and personal insurance. Among their offerings, life and health insurance stand out as key components of their portfolio. The organization prides itself on providing customized insurance solutions that cater to both businesses and individual consumers. Their commitment to understanding client needs and delivering tailored coverage options has established them as a trusted partner in risk management. The Lubin-Bergman Organization actively engages with various industries, including commercial real estate and construction, ensuring they remain relevant and responsive to the evolving demands of their clientele.


16. Lohman Companies


Lohman Companies, based in Moline, Illinois, is a private insurance agency that has been serving clients since 1953. With a team of 11 to 50 employees, the company specializes in a wide array of insurance products, including life, health, auto, and business insurance. Their life insurance offerings include term life, permanent life, and universal life policies, catering to the needs of both individuals and businesses. The agency prides itself on providing quality financial products and services, aiming to protect clients against various risks. Recently, Lohman Companies expanded its reach by acquiring E.H. Schroder Insurance Agency, further solidifying its position in the local insurance market. The company emphasizes personalized service and expertise, helping clients navigate their insurance options effectively.


17. Goodwill Financial, Inc.

  • Website: goodwillfinancial.com
  • Ownership type: Private
  • Headquarters: Elmhurst, Illinois, United States (USA)
  • Employee distribution: United States (USA) 100%
  • Founded year: 2005
  • Headcount: 11-50
  • LinkedIn: goodwill-financial-inc-

Goodwill Financial, Inc., based in Elmhurst, Illinois, is a private insurance agency founded in 2005. With a team of 19 employees, the company specializes in providing a range of insurance and financial services tailored to families, individuals, and businesses. Their offerings include personal insurance products such as auto and homeowners insurance, alongside commercial insurance solutions. Notably, Goodwill Financial emphasizes life insurance products, particularly those with living benefits, which allow policyholders to access funds in the event of serious illness or injury. They also promote Indexed Universal Life (IUL) policies, which serve as both a life insurance product and a savings vehicle, aimed at helping clients secure a tax-free retirement. The agency prides itself on its independent status, enabling it to partner with various insurance carriers to find the best coverage options for its clients. Goodwill Financial is dedicated to educating clients about the importance of life and health insurance, ensuring they are well-informed about their financial futures.


18. Guarantee Trust Life Insurance Company

  • Website: gtlic.com
  • Ownership type: Private
  • Headquarters: Glenview, Illinois, United States (USA)
  • Employee distribution: United States (USA) 100%
  • Founded year: 1936
  • Headcount: 201-500
  • LinkedIn: guarantee-trust-life-insurance

Guarantee Trust Life Insurance Company (GTL), based in Glenview, Illinois, has been a significant player in the insurance industry since its inception in 1936. The company specializes in supplemental health and life insurance products, catering to both individuals and groups. GTL's offerings include a range of insurance solutions designed to help policyholders manage medical expenses and financial risks associated with health issues. Their product lineup features various types of health and life insurance, such as Turbo Term life insurance, Medicare Supplement plans, and critical illness coverage. GTL has also been proactive in addressing the needs of specific demographics, exemplified by their early provision of life insurance to individuals with HIV. The company prides itself on its strong financial condition, conservative investment philosophy, and a dedicated management team, which collectively contribute to its stability and reliability in the insurance market. GTL's commitment to customer service is reflected in their personalized support, ensuring that policyholders can navigate their insurance needs effectively.


19. Mars Insurance Agency

  • Website: marsinsurance.com
  • Ownership type: Private
  • Headquarters: Crystal Lake, Illinois, United States (USA)
  • Employee distribution: United States (USA) 76%, India 24%
  • Founded year: 1968
  • Headcount: 1-10
  • LinkedIn: mars-insurance-agency-inc-

Mars Insurance Agency, established in 1968, is a private insurance agency located in Crystal Lake, Illinois. With a small team of dedicated professionals, the agency provides a wide array of insurance products, including auto, homeowners, life, health, and business insurance. They cater to both individual consumers and businesses, emphasizing personalized service and the development of long-term relationships with clients. Mars Insurance Agency prides itself on being an independent agency, which allows them to offer options from multiple top-rated insurance carriers, ensuring that clients receive tailored coverage that meets their specific needs. Their commitment to customer service is reflected in numerous positive testimonials from clients who appreciate the agency's responsiveness and professionalism. The agency has not reported any funding, indicating that it operates independently without external financial backing.


20. The Bensman Group

  • Website: bensman.com
  • Ownership type: Private
  • Headquarters: Bannockburn, Illinois, United States (USA)
  • Employee distribution: United States (USA) 100%
  • Founded year: 1976
  • Headcount: 11-50
  • LinkedIn: the-bensman-group

The Bensman Group, based in Bannockburn, Illinois, is a private insurance agency that has been operational since 1976. With a team of 18 employees, the firm specializes in a range of insurance and risk management services tailored to meet the unique needs of individuals, families, philanthropic organizations, and businesses. Their offerings include life insurance, disability insurance, long-term care insurance, and property & casualty insurance. The Bensman Group emphasizes building meaningful relationships with clients, ensuring that their insurance solutions align with the specific values and requirements of each client. This focus on personalized service positions them as a relevant player in the insurance industry, particularly in the life insurance segment.



Life Insurance Insights: Key Companies in Illinois


CompanyHeadquarterSizeFoundedOwnership
State FarmBloomington, Illinois, United States (USA)10001+1922Private
LifeQuotes.comChicago, Illinois, United States (USA)51-2001984Corporate
AccuQuoteSchaumburg, Illinois, United States (USA)201-5001986Corporate
Combined, a Chubb CompanyChicago, Illinois, United States (USA)5001-100001922Corporate
Mutual Trust Life Insurance CompanyOak Brook, Illinois, United States (USA)51-2001904Corporate
Illinois MutualPeoria, Illinois, United States (USA)51-2001910Family Owned
Everlake LifeNorthbrook, Illinois, United States (USA)51-2002021Private Equity
Northwest Insurance NetworkChicago, Illinois, United States (USA)201-5001958Corporate
Loman-Ray Insurance Group, LLCChampaign, Illinois, United States (USA)51-2001981Family Owned
Dearborn GroupLombard, Illinois, United States (USA)1001-50001969Private
Snyder Insurance AgencyBloomington, Illinois, United States (USA)11-501906Family Owned
Kuvare HoldingsRosemont, Illinois, United States (USA)201-5002015Private Equity
Lr WindsorChicago, Illinois, United States (USA)11-502003Private
ELCO Mutual Life and AnnuityLake Bluff, Illinois, United States (USA)51-2001946Private
The Lubin-Bergman Organization, Inc.Northbrook, Illinois, United States (USA)11-501923Private
Lohman CompaniesMoline, Illinois, United States (USA)11-501953Private
Goodwill Financial, Inc.Elmhurst, Illinois, United States (USA)11-502005Private
Guarantee Trust Life Insurance CompanyGlenview, Illinois, United States (USA)201-5001936Private
Mars Insurance AgencyCrystal Lake, Illinois, United States (USA)1-101968Private
The Bensman GroupBannockburn, Illinois, United States (USA)11-501976Private


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