SB 187 Illinois Senate · 93rd Regular Session

INS CD-SMALL POLICY-DISCLOSURE

Summary

Amends the Illinois Insurance Code. Establishes disclosure requirements for life insurance policies having a face amount of $20,000 or less. Requires insurers to make a disclosure to insureds if the premiums on small policies will exceed the face amount of the policy. Prohibits insurers from collecting premiums on small policies when the premiums collected minus dividends paid in cash exceed 250% of the face amount of the policy. Effective January 1, 2004.

Bill status failed 1 of 4 stages cleared

Introduction

Feb 2003

Committee Review

Floor Vote

Governor

Introduced Feb 4, 2003 Last action Jan 11, 2005

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Mar 14, 2003

Committee

Rule 3-9(a) / Re-referred to Rules

upper

Mar 5, 2003

Upper · Passed

To Subcommittee

upper

Feb 6, 2003

Committee

Assigned to Insurance & Pensions

upper

Feb 4, 2003

Committee

Referred to Rules

upper

0 primary · 1 co-sponsor