BBB Business Review

BBB Accredited Business since 03/01/1943

Illinois Mutual Life Insurance Co.

(309) 674-8255300 SW Adams St, PeoriaIL 61634-0001

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BBB Accreditation

A BBB Accredited Business since 03/01/1943

BBB has determined that Illinois Mutual Life Insurance Co. meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.

Reason for Rating

BBB rating is based on 13 factors. Get the details about the factors considered.

Factors that raised Illinois Mutual Life Insurance Co.'s rating include:

  • Length of time business has been operating.
  • Complaint volume filed with BBB for business of this size.
  • Response to 2 complaint(s) filed against business.
  • Resolution of complaint(s) filed against business.

Customer Complaints SummaryRead complaint details

2 complaints closed with BBB in last 3 years | 0 closed in last 12 months
Complaint TypeTotal Closed Complaints
Problems with Product / Service2
Advertising / Sales Issues0
Billing / Collection Issues0
Delivery Issues0
Guarantee / Warranty Issues0
Total Closed Complaints 2

Customer Reviews Summary Read customer reviews

0 Customer Reviews Customer Reviews on Illinois Mutual Life Insurance Co.

Customer Experience Total Customer Reviews
Positive Experience
Neutral Experience
Negative Experience
Total Customer Reviews 0 Customer Reviews

Complaint Breakdown by ResolutionAbout Complaint Details

Complaint Resolution Log (2)
12/16/2013Problems with Product / Service | Read Complaint Details

Illinois Mutual is telling me that my Policy No. X-XXXXXXX was not written with a Surrender Value. Disputed in September and still no answer.
Letter I sent to Illinois Mutual and ***************** Agent below...

from **** L. *********

TO: Illinois Mutual
300 W. Adams Street
Peoria, IL XXXXX
cc: *************, Issuing Agent

Current address: *************************************
Current Phone: XXX-XXX-XXXX
DOB: **********
Policy No.: X-XXXXXXX
Illinois Mutual Underwriter: ******t Original policy dated: 2/23/1998
Issuing Agent: ************* Agents Code: XXXXX

It has been brought to my attention during a recent inquiry with Illinois Mutual that Illinois Mutual states that my Policy No. X-XXXXXXX was not written with a Surrender Value 'At age 65, the surrender Value Rider returns 100% of all premiums paid, less claims paid to you'.

I have copied the original Policy that has been kept in my records since 1998 - Attached along with the Surrender Value Rider that was attached to original policy. I have been paying on this policy along with this written understanding that this policy, at age 65, if never used, 100% of premiums paid are returned to me. So, since February, 1998 at $35.23 per month (deducted from my checking account #XXXXXXXX each month on the 16th of each months since this date, March 1998).

$422.76 per year; with $6,698.81 paid into this policy as of today's date, November 19, 2013.

Further reads: 'In addition to receiving a cash lump sum at age 65, you could also convert the premium refund to a monthly income for 180 months of $118.46, Annual income at age 65 payable for 180 months $1,421.52 or total income paid over 180 months of $21,322.73'. (Again, attached in pdf with this letter).

If this policy was written fraudulently and Illinois Mutual intends to not honor this policy as it was written with a Surrender Value you have 2 options 1) you need to refund the entire amounts paid into this policy over the past 14 years and I can invest the monies elsewhere as they were intended or 2) honor it as written and send me written notice that you made an error that this policy does have a surrender value and I can continue to pay into the policy. If neither of these options suits Illinois Mutual I can turn this paperwork over to a lawyer - it is right in 'black and white' and a pretty simple legal document.

Please respond to this letter in writing within 14 days of date above, December 3, 2013.

Desired Settlement
Either honor the policy as written with Surrender Value noted and I continue to pay on the policy and receive in writing that this policy has been reviewed and they were incorrect, etc. or reimburse all my monies paid in over the past 14 years approx. $6,698.81 and cancel/close the policy!!! I am not going to pay on this for another 15 years with no Surrender Value at age 65 as written.

Business Response
Contact Name and Title: ****************,Comp Mgr
Contact Phone: XXX-XXX-XXXX
Contact Email: ***********
Illinois Mutual has responded directly to the complaintant regarding BBB CASE#: XXXXXXXX.

02/17/2014Problems with Product / Service

Industry Comparison| Chart

Insurance Companies

Additional Information

BBB file opened: 07/31/1985Business started: 01/01/1910Business started locally: 01/01/1913
Licensing, Bonding or Registration

This company is in an industry that may require licensing, bonding or registration in order to lawfully do business. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.

Business Management
Principal: Ms. Katie McCord Jenkins (President)
Contact Information
Mr. Adam Harn Ms. Maureen Mulville Mr. Scott Reed
Number of Employees


Business Category

Insurance Companies

Products & Services

This company offers insurance and related services.

Map & Directions

Map & Directions

Address for Illinois Mutual Life Insurance Co.

300 SW Adams St

Peoria, IL 61634-0001

To | From


1 Locations

  • 300 SW Adams St 

    Peoria, IL 61634-0001(309) 674-8255

Industry Comparison ChartX

The information in the table below represents an industry comparison of businesses which are of the same relative size. This is based on BBB's database of businesses located in Central Illinois. Businesses may engage in more than one type of business. The percent of time the business engages in a type of business is not accounted for. There is no known industry standard for the number of complaints a business can expect. The volume of business and number of transactions may have a bearing on the number of complaints received by BBB.

*Illinois Mutual Life Insurance Co. is in this range.


Types of Complaints Handled by BBB

BBB handles the following types of complaints between businesses and their customers so long as they are not, or have not been, litigated:

  • Advertising or Sales
  • Billing or Collection
  • Problems with Products or Services
  • Delivery
  • Guarantee or Warranty

We do not handle workplace disputes, discrimination claims or claims about the quality of health or legal services.


Additional Email Addresses


BBB Complaint Process

Your complaint will be forwarded to the company within two business days. The company will be asked to respond within 14 days, and if a response is not received, a second request will be made. You will be notified of the company's response when we receive it (or notified that we received no response). Complaints are usually closed within 30 business days.


BBB began including complaint response text in BBB Business Reviews on 06/01/2013.

BBB reports the complaint response text for reportable complaints against a business that are received electronically.


Industry Tips for Insurance Companies


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BBB Customer Review Rating plus BBB Rating Overview

BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.

Customer Review Experience Value
Positive Review 5 points per review
Neutral Review 3 points per review
Negative Review 1 point per review

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BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

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