(215 ILCS 5/361a) (from Ch. 73, par. 973a)
Sec. 361a.
Age
limit.
If any such policy contains a provision establishing, as an age limit or
otherwise, a date after which the coverage provided by the policy will not
be effective, and if such date falls within a period for which premium is
accepted by the insurer or if the insurer accepts a premium after such
date, the coverage provided by the policy will continue in force subject to
any right of cancellation until the end of the period for which premium has
been accepted. In the event the age of the insured has been misstated and
if, according to the correct age of the insured, the coverage provided by
the policy would not have become effective, or would have ceased prior to
the acceptance of such premium or premiums, then the liability of the
insurer shall be limited to the refund, upon request, of all premiums paid
for the period not covered by the policy.
(Source: Laws 1951, p. 611.)
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