Illinois Mutual Life Insurance Company · Peoria, IL United States
Company Description
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This link will open in a new window Illinois Mutual is a McCord family affair. O.L. McCord, the great-grandfather of current chairman and president Michel A. McCord, founded the company in 1910, and four consecutive generations of McCord men have done their family proud by helming the insurer. Illinois Mutual specializes in disability income insurance, but also offers life insurance and annuity products. The company's offerings include personal income protection, business expense coverage, and special risk income protection for those with medical conditions. The company distributes its products nationwide through more than 18,000 independent agents. To read the full description, subscribe now.
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Key Illinois Mutual Life Insurance Company Financials
| Company Type | Private - Mutual Company Headquarters |
| Fiscal Year-End | December |
| Annual Sales (mil.) | $220.4 |
| Employees | 212 |
Illinois Mutual Life Insurance Company Executives
35 executives listed for Illinois Mutual Life Insurance Company's Peoria, IL location.
| Title | Name & Bio | Contact |
| Chairman and President | Michel McCord | Network |
| EVP, Controller, and Director | William Palmatier | Network |
| VP and Chief Actuary | Frederic Broers | Network |
Competition
Competitive Landscape for Illinois Mutual Life Insurance Company
Demand for health insurance products is driven by the rising costs of medical care. The profitability of individual companies depends on efficient operations and the ability to negotiate favorable contracts with healthcare providers. Large companies and organizations have advantages in negotiating contracts with healthcare providers. Small companies can compete successfully by providing special coverage plans as part of government programs such as Medicaid, or for specialized populations. The industry is highly automated and capital-intensive: annual revenue per employee is close to $1 million. Reforming the US healthcare industry continues to be a top agenda item in Washington, but a consensus on the best way to reduce healthcare spending has yet to be reached. The managed healthcare industry will most certainly be impacted by any changes initiated by federal legislators. To read the full description, subscribe now.Top Illinois Mutual Life Insurance Company Competitors
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