Illinois Mutual’s underwriting financial documentation guidelines and non-medical limits for disability income insurance applications are listed below.
Non-medical limits* – total monthly amount of insurance applied for and in force with Illinois Mutual
Age
18-50
51-60
Non-Med
$200 – $5000
$200 – $3,000
Abbrv Paramed, Blood Profile, Urinalysis
$5,001+
$3,001+
Financial Documentation Guidelines
Benefit Amounts **
$200 – $3,000
$3,000 – $5,000
$5,001+
Non-Owner W-2 Employees
No income documentation required
No income documentation required
2 years of income documentation required
Self-Employed Applicants***
No income documentation required
1 year of income documentation
2 years of income documentation required
*Illinois Mutual’s underwriting department reserves the right to request financial and/or medical requirements for any amount
**Including integrated monthly benefit rider and existing coverage, all sources
***If Self-employed less than 12 consecutive months, a year-to-date business income/expense statement and or employment contracting copies are required
For more specific details, please contact Matt Jackson (x204) or Matt Dymond (x202). Main telephone number is 248-553-9505.