Ill. Admin. Code tit. 50, § 1405.50 - Group Insurance

Current through Register Vol. 46, No. 15, April 8, 2022

a) Group Insurance is defined in Section 230.1 of the Code. Standard Provisions for Group Policies are cited in Section 231.1 of the Code.
b) Group Insurance Contributory or Non-Contributory

The policy shall state whether it is either contributory or non-contributory.

c) Paid-Up Term Life Insurance Benefit in Group Ordinary Life

Any group ordinary life insurance form providing a paid-up term life insurance benefit may contain a limitation to the effect that, when the paid-up benefit amounts to less than $1,000, only the alternative cash value as provided in the form shall be payable.

Notes

Ill. Admin. Code tit. 50, § 1405.50

Amended at 34 Ill. Reg. 5835, effective April 7, 2010

Amended at 43 Ill. Reg. 3259, effective 2/25/2019

The following state regulations pages link to this page.



State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.