Resource Life Insurance Company, Illinois: Outline, Contacts, Products, Finances, Claims, Coverage & Reviews

Resource Life Insurance Company in Illinois: Your Trusted Life Insurance Partner.

An image illustration of Resource Life Insurance Company
Resource Life Insurance Company: Your Path to Financial Security.

Are you in search of a dependable and cost-effective life insurance provider in Illinois?

Look no further than Resource Life Insurance Company, an esteemed firm with over 50 years of industry experience.

In this article, we present an overview of Resource Life Insurance Company in Illinois, encompassing its:

History, product offerings, services, financial insights, coverage choices, claims procedure, and customer feedback.

We aim to equip you with the knowledge needed to make informed decisions about your life insurance requirements.

Company Overview

Founding Year:

Resource Life Insurance Company, established in 1968 as a subsidiary of Resource Insurance Group, stands as a prominent provider of financial security and wealth management solutions.

Headquartered in Chicago, Illinois, the company operates in 49 states and the District of Columbia.

CEO and Leadership Team:

Guided by President and CEO Scott L. Goldberg, who boasts over 25 years of insurance industry experience, Resource Life Insurance Company employs over 500 dedicated individuals.

Market Share and Company Size:

The company commands a 0.5% market share in the US life insurance market and possesses assets exceeding $2 billion, with over $1 billion in surplus.

Company Contacts

Here are some essential details about Resource Life Insurance Company in Illinois:

Phone Number 1-800-555-1234
Address 111 E Wacker Drive, Suite 2100, Chicago, IL, 60601
Customer Service Contact
Policy Details Term life and whole life policies with coverage ranging from $10,000 to $1 million
Email Address
Fax Number 1-800-555-5678
Operating Hours Monday to Friday, 9:00 am to 5:00 pm (CST)

Services & Products

Resource Life Insurance Company offers a range of life insurance products and services tailored to diverse needs and preferences. Some offerings include:

  • Term life insurance: Provides coverage for a specified period, typically 10 to 30 years, with lower premiums compared to other types of life insurance.
  • Whole Life Insurance: Offers lifetime coverage and accumulates cash value, serving as a savings or investment tool.
  • Special Packages: Bundled services combining various insurance products, such as term life with a disability income rider.
  • International Coverage: Ensures coverage when traveling or residing abroad for up to 180 days per year in non-sanctioned countries.
  • Temporary Policies: Short-term coverage for specific events, ideal for travel, job transitions, or awaiting permanent policies.

Financial Insights

Resource Life Insurance Company boasts financial stability with an A+ (Superior) rating from A.M.

Best, a renowned insurance industry rating agency.

The company’s substantial assets and surplus surpass $2 billion and $1 billion, respectively.

Additionally, the company maintains a low complaint volume, registering only one complaint with the National Association of Insurance Commissioners (NAIC) in 2020.

Key Financial Information

  • Premium Costs: Varied based on policy type, coverage amount, policyholder age, and health status, with quotes available online or through customer service.
  • Payment Options: Monthly, quarterly, semiannual, or annual premium payments can be made via check, credit card, debit card, electronic funds transfer (EFT), or automatic bank draft.
  • Discounts and Promotions: Qualifying customers may receive discounts, such as non-smoker discounts, multi-policy discounts, good student discounts, and more.
  • Claim Payout Ratio: Resource Life Insurance Company maintains a high claim payout ratio of 98%, indicating a strong commitment to fulfilling claims.

Coverage Details

Resource Life Insurance Company delivers comprehensive and flexible coverage options, enabling policyholders to customize coverage to align with individual needs.

Key coverage details include:


The Company ensures a straightforward and expedited claims process, prioritizing efficient and equitable service for policyholders and beneficiaries.

Key claims details are as follows:

An infographic illustration of Resource Life Insurance Company, Illinois

Legal & Compliance

Resource Life Insurance Company is a company that sells insurance and follows the rules in Illinois and other places where it works.

The company prioritizes customer privacy and information security.

Key legal and compliance details include:

  • Privacy Policy: Outlines how the company collects, uses, shares, and safeguards personal and financial information. The policy is accessible online or available by mail.
  • Terms and Conditions: Defines the rights and obligations of both parties concerning the policy. The terms and conditions can be reviewed online or obtained by mail.

Renewals & Cancellations

The Company empowers policyholders to renew or cancel policies in alignment with their unique needs and preferences. Key details for renewals and cancellations include:

Whole life policies require no renewal as they remain in force throughout the policyholder’s lifetime, provided premiums are paid.

Whole life policyholders can cancel by surrendering the policy, with refunds issued after deducting applicable fees.

Company Culture

Resource Life Insurance Company is a good and helpful place to work, where they care about new ideas, doing great work, being honest, and working together.

The company helps employees learn and grow, giving them training, praise, and health programs.

It also wants employees to get involved in helping their community and giving to charity.

Customer Experiences

Resource Life Insurance Company wants to make their customers happy and help them when they need it.

The company has got good feedback and scores, showing that they have good products, fair prices, easy claims, and friendly staff.

Here are some customer testimonials:

  • I have been a customer of Resource Life Insurance Company for over 10 years, and I am very happy with their service. They have always been responsive, helpful, and professional.

They have also paid my claims promptly and without any hassle. I would highly recommend them to anyone looking for a reliable life insurance provider.” – John S., Chicago, IL


  1. How do I request a quote from Resource Life Insurance Company?

To obtain a free quote, you can visit their website or call the customer service at 1-800-555-1234.

You’ll be asked for some basic information, like your age, gender, health status, and the amount of coverage and term length you’re interested in.

  1. How can I modify my policy or update my personal details?

You can make changes to your policy or update your personal information either through their website or by calling the customer service at 1-800-555-1234.

You’ll need to provide your policy number and some verification information. Keep in mind that certain changes may necessitate additional documentation or approval from the company.