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90_SB0131
215 ILCS 5/355.1 from Ch. 73, par. 967.1
Amends the Illinois Insurance Code. Adds a Section
caption and makes technical changes in a Section concerning
loss of time benefits.
LRB9000790JSgc
LRB9000790JSgc
1 AN ACT to amend the Illinois Insurance Code by changing
2 Section 355.1.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Insurance Code is amended by
6 changing Section 355.1 as follows:
7 (215 ILCS 5/355.1) (from Ch. 73, par. 967.1)
8 Sec. 355.1. Loss of time benefits; certain reductions
9 prohibited. No claim for benefits for loss of time from the
10 insured person's occupation, under a group or individual
11 accident and health insurance policy delivered in this State
12 more than 120 days after October 1, 1973 the effective date
13 of this Section, shall be reduced by reason of any
14 cost-of-living increase, designated as such under the Federal
15 Social Security Act, if the such cost-of-living increase
16 occurs while the policy's benefits are payable for that
17 claim.
18 (Source: P.A. 78-603.)