Bill Status of SB 187   93rd General Assembly

Short Description:  INS CD-SMALL POLICY-DISCLOSURE

Senate Sponsors
Sen. John J. Cullerton

Last Action  View All Actions

DateChamber Action
  1/11/2005SenateSession Sine Die

Statutes Amended In Order of Appearance
215 ILCS 5/229.6 new

Synopsis As Introduced
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.

Actions 
DateChamber Action
  2/4/2003SenateFiled with Secretary by Sen. John J. Cullerton
  2/4/2003SenateFirst Reading
  2/4/2003SenateReferred to Rules
  2/6/2003SenateAssigned to Insurance & Pensions
  2/19/2003SenatePostponed - Insurance & Pensions
  2/27/2003SenatePostponed - Insurance & Pensions
  3/5/2003SenateTo Subcommittee
  3/14/2003SenateRule 3-9(a) / Re-referred to Rules
  1/11/2005SenateSession Sine Die

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