INS LONG TERM CARE
Synopsis of Bill as introduced:
Amends the Illinois Insurance Code in relation to long-term care
insurance. Provides that the term "long-term care insurance" includes
policies that provide for payment of benefits based upon cognitive
impairment or loss of functional capacity. Requires coverage outlines
to disclose whether the policy is a federally tax-qualified long-term
care policy. Requires policies to be delivered within 30 days after
the applicant is approved. Requires insurers to provide explanations
of denials within 60 days after a request. Effective immediately.
SENATE AMENDMENT NO. 1.
Changes a cross-reference to the Internal Revenue Code regarding
contracts that are guaranteed renewable.
Last action on Bill: PUBLIC ACT.............................. 92-0148
Last action date: JUL-24-2001
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 1
END OF INQUIRY
Full Text Bill Status