INS LIFE EARLY PAYMENT
Synopsis of Bill as introduced:
Amends the Illinois Insurance Code. Provides that a policy that
allows payment of a percentage of the face amount of benefits in
advance upon a diagnosis that the insured has incurred a medical
condition listed in the policy may pay up to 75%, rather than 25%, of
the benefits in advance. Provides that total and permanent disability
or any condition approved by the Department of Insurance may qualify
for advance payments. Effective immediately.
HOUSE AMENDMENT NO. 1.
Adds reference to:
215 ILCS 5/57 from Ch. 73, par. 669
215 ILCS 5/59.2 new
Amends the Illinois Insurance Code. Authorizes the formation of
mutual insurance holding companies. Provides for the conversion of
subsidiary mutual companies to stock companies. Requires approval of
the Director of Insurance and of the members. Defines terms.
FISCAL NOTE, H-AM 1 (Dpt. Insurance)
No fiscal impact on the Department.
STATE MANDATES ACT FISCAL NOTE, H-AM 1
Fails to create a State mandate.
Last action on Bill: PUBLIC ACT.............................. 90-0810
Last action date: 99-01-06
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0
END OF INQUIRY
Full Text Bill Status