Blog - Illinois Insurance Hotline

Information covered in the Illinois Insurance Hotline blog is intended to provide general information and guidance, and should not be considered legal advice.

Why does a life insurance application ask such detailed health questions?

Jan 9, 2019, 11:03 AM

Most life insurance companies evaluate medical history to assess the applicant's overall health. A life insurer pays the policy death benefit when the insured individual dies. A short life expectancy means life insurance proceeds are paid sooner. In turn, the insured individual's health impacts life insurance eligibility and policy pricing.

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How does 'gap' insurance work?

Dec 19, 2018, 10:54 AM

The value of a new car drops significantly as soon as you drive it off the lot. Depreciation continues to affect vehicle value for several years. Gap insurance helps owners address the difference should the new car be totaled in a crash.

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