Household Discounts no longer available in Illinois

The Illinois Department of Insurance has determined that some household discounts are unfair to certain policyholders and not in compliance with their underwriting restrictions.

This seems to have been a surprise announcement, and some of the carriers are scrambling to adjust. Some carriers may have to refile with the Illinois Department of Insurance. We haven't heard from all carriers yet, but we'll keep you posted as we learn more.

Spousal discounts may still be available

In cases where the discount involved both spouses applying together, those discounts should remain. Household discounts that were offered by simply having another adult in the home is where the problem lies.

Individual carrier info

Companion Life

Companion's updated materials now state:

"Per the Illinois Department of Insurance, the household discount is discontinued as of February 1, 2016."


Equitable's announcement reads:

"All policyholders that currently have the single-policy discount will be able to keep it, however, for all policy sales on or after February 1, 2016, the single-policy household discount must be discontinued."

Equitable has also filed to offer a 7% multi-policy discount, where two household members apply for and are approved for these policies.

For other carriers, be sure to check with them before writing new policies. We'l post more details as we get them.


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