Senate Sponsors: MADIGAN,R. House Sponsors: MAUTINO-BEAUBIEN-ACEVEDO-LOPEZ Short description: 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 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0 END OF INQUIRY Full Text Bill Status