Question 18 - Optional Life Split.docx

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Life Insurance Services - Technical Proposal Only
Solicitation number
20-416CMS-BENF4-B-12595
Issued by
St. Clair County, Illinois

About this file

This document contains financial data related to the State of Illinois' optional life, spouse life, dependent (child) life, and optional AD&D insurance programs from fiscal years 2015 to 2019. The data includes premiums collected and claims paid, as well as the number of claims for each year.

The related state and local contract opportunity is for the Department of Central Management Services in Illinois to seek a vendor to provide a group life and accidental death & dismemberment (AD&D) insurance program for its employees and annuitants. This is a technical proposal only bid, and pricing will be submitted separately under Bid Number B-14561. The contract term is not specified.

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State of IL Optional Life Split

Optional Life

Fiscal Year
Premiums
Claims
# of Claims
2015
$50,802,517
$39,656,749
1,581
2016
$51,239,493
$47,406,797
1,582
2017
$51,284,813
$42,128,406
1,557
2018
$51,042,278
$42,322,931
1,570
2019
$49,058,856
$40,093,086
1,533

Premium rates for optional life were reduced in FY2019.

Spouse Life

Fiscal Year
Premiums
Claims
# of Claims
2015
$2,182,719
$2,061,404
326
2016
$2,148,512
$2,084,586
331
2017
$2,094,440
$2,045,334
320
2018
$2,052,570
$2,099,489
348
2019
$2,025,579
$2,074,860
334

Dependent (Child) Life

Fiscal Year
Premiums
Claims
# of Claims
2015
$307,497
$349,748
34
2016
$308,576
$426,626
42
2017
$307,009
$266,576
26
2018
$307,280
$330,030
33
2019
$307,793
$270,010
27

Optional AD&D

Fiscal Year
Premiums
Claims
# of Claims
2015
$3,111,849
$562,499
38
2016
$3,075,303
$1,218,653
43
2017
$2,995,672
$2,801,749
29
2018
$2,945,913
$896,564
22
2019
$2,955,082
$2,442,085
33

File details come from the government source that posted it. Updated .