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92_HB2422
LRB9207092JSpc
1 AN ACT in relation to insurance.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Illinois Insurance Code is amended by
5 changing Section 355.1 as follows:
6 (215 ILCS 5/355.1) (from Ch. 73, par. 967.1)
7 Sec. 355.1. Loss of time benefits; certain reductions
8 prohibited. No claim for benefits for loss of time from the
9 insured person's occupation, under a group or individual
10 accident and health insurance policy delivered in this State
11 more than 120 days after October 1, 1973 the effective date
12 of this Section, shall be reduced by reason of any
13 cost-of-living increase, designated as such under the Federal
14 Social Security Act, if the such cost-of-living increase
15 occurs while the policy's benefits are payable for that
16 claim.
17 (Source: P.A. 78-603.)