Illinois Compiled Statutes 215 Insurance: Article XIV - Legal Reserve Life Insurance
- Illinois Insurance Code. - 215 ILCS 5, Section 222
Scope of article. This article shall apply to all stock and mutual legal reserve life companies, and to the extent provided in section 281...
- Illinois Insurance Code. - 215 ILCS 5, Section 223
Director to value policies - Legal standard of valuation. (1) The Director shall annually value, or cause to be valued, the reserve liabilities (hereinafter called...
- Illinois Insurance Code. - 215 ILCS 5, Section 224
Standard provisions for life policies. (1) After the first day of July, 1937, no policy of life insurance other than industrial, group or annuities and...
- Illinois Insurance Code. - 215 ILCS 5, Section 224.05
Military personnel in military service; no lapse of life insurance policy. (a) Except as provided in subsection (b), this Section shall apply to any individual...
- Illinois Insurance Code. - 215 ILCS 5, Section 224.1
Employer insurable interest. Notwithstanding any other Section of this Code, an employer or an employer sponsored trust for the benefit of its employees has...
- Illinois Insurance Code. - 215 ILCS 5, Section 225
Prohibited Provisions for Life Policies. (1) After the effective date of this Code no policy of life insurance may be issued or delivered in...
- Illinois Insurance Code. - 215 ILCS 5, Section 226
Standard provisions for annuities and pure endowment contracts. (1) After the effective date of this Section and any amendments thereto no annuity or pure...
- Illinois Insurance Code. - 215 ILCS 5, Section 226.1
Entitled annuity payment options. Annuity contracts and funding agreements may be issued without a life contingency annuity payment option in the following circumstances: (1)...
- Illinois Insurance Code. - 215 ILCS 5, Section 227
Standard provisions for reversionary or survivorship annuity contracts. (1) After the effective date of this Code no contract for a reversionary annuity or survivorship...
- Illinois Insurance Code. - 215 ILCS 5, Section 228
Industrial Life Insurance Defined. As used in this Code "industrial life insurance" means either that form of life insurance under which the premiums are...
- Illinois Insurance Code. - 215 ILCS 5, Section 229
Standard Provisions for Industrial Life Insurance. (1) After the effective date of this Section and any amendments thereto, no policy of industrial life insurance...
- Illinois Insurance Code. - 215 ILCS 5, Section 229.1
Non-forfeiture benefits and cash surrender values in policies issued prior to the operative date of section 229.2. (1) This subsection shall apply only to...
- Illinois Insurance Code. - 215 ILCS 5, Section 229.2
Standard Non-forfeiture Law for Life Insurance. (1) No policy of life insurance, except as stated in subsection (8), shall be delivered or issued for...
- Illinois Insurance Code. - 215 ILCS 5, Section 229.3
Loan provisions in policies. In the case of those policies issued prior to the operative date of Section 229.2 (the Standard Non-forfeiture Law) the...
- Insurance: Article XIV - Legal Reserve Life Insurance
(Source: P.A. 93-873, eff. 8-6-04. Repealed internally, eff. 7-1-06.)
- Illinois Insurance Code. - 215 ILCS 5, Section 229.4
(Repealed). (Source: P.A. 93-873, eff. 8-6-04. Repealed internally, eff. 7-1-06.)
- Illinois Insurance Code. - 215 ILCS 5, Section 229.4a
Standard Non-forfeiture Law for Individual Deferred Annuities. (1) Title. This Section shall be known as the Standard Nonforfeiture Law for Individual Deferred Annuities. (2) Applicability....
- Illinois Insurance Code. - 215 ILCS 5, Section 229.5
Policy loan interest rates. (a) As used in this Section, unless the context requires otherwise: (1) "Policy" includes certificates issued by a fraternal benefit...
- Illinois Insurance Code. - 215 ILCS 5, Section 230.1
Group Insurance Definition. Except as provided in Section 230.2, no policy of group life insurance shall be delivered in this State unless it conforms...
- Illinois Insurance Code. - 215 ILCS 5, Section 230.2
Limits of Group Life Insurance. Group life insurance offered to a resident of this State under a group life insurance policy issued to a...
- Illinois Insurance Code. - 215 ILCS 5, Section 230.3
Dependent Group Life Insurance. Except for a policy issued under subsection (B) of Section 230.1, a group life insurance policy may be extended to...
- Illinois Insurance Code. - 215 ILCS 5, Section 231.1
Group Life Insurance Standard Provision. No policy of group life insurance shall be delivered in this State unless it contains in substance the following...
- Illinois Insurance Code. - 215 ILCS 5, Section 232
Extension of time and modification of standard provisions. (1) Any company authorized to transact business in this State on the effective date of this...
- Illinois Insurance Code. - 215 ILCS 5, Section 233
Participating and non-participating policies. After the calendar year during which this Code becomes effective, no life company authorized to do business in this State...
- Illinois Insurance Code. - 215 ILCS 5, Section 234
Notice of premium required. (1) No life company doing business in this State shall declare any policy forfeited or lapsed within six months after...
- Illinois Insurance Code. - 215 ILCS 5, Section 234.1
(Notice of the Enactment of a Non-Forfeiture Option.) No life company doing business in this State may enact a non-forfeiture option, unless a notice...
- Illinois Insurance Code. - 215 ILCS 5, Section 235
Extension of time for payment of life premium. A life company may enter into subsequent agreements in writing with the insured, which need not...
- Illinois Insurance Code. - 215 ILCS 5, Section 236
Discrimination prohibited. (a) No life company doing business in this State shall make or permit any distinction or discrimination in favor of individuals among insured...
- Illinois Insurance Code. - 215 ILCS 5, Section 237
Illegal inducements - Penalty. No life company authorized to do business in this State shall issue or deliver in this State or permit its...
- Illinois Insurance Code. - 215 ILCS 5, Section 238
Exemption. (a) All proceeds payable because of the death of the insured and the aggregate net cash value of any or all life and endowment...
- Illinois Insurance Code. - 215 ILCS 5, Section 238.1
Data exchanges; administrative liens. (a) Any insurance company doing business in the State and governed by this Code shall enter into an agreement for data...
- Illinois Insurance Code. - 215 ILCS 5, Section 239
Misrepresentations-Penalty. No agent, examining physician, or other person shall knowingly or wilfully make any false or fraudulent statement or representation in, or with reference,...
- Illinois Insurance Code. - 215 ILCS 5, Section 240
Premium deposit reserve. A life company may contract for or accept premium deposits, other than premiums stated in the policy. The unused accumulation from...
- Illinois Insurance Code. - 215 ILCS 5, Section 241
Trust settlements. Any domestic life company shall have the power to hold the proceeds of any policy issued by it under a trust or...
- Illinois Insurance Code. - 215 ILCS 5, Section 242
Rights of minors. Any minor of the age of fifteen years or more may, notwithstanding such minority, contract for life, health and accident insurance...
- Illinois Insurance Code. - 215 ILCS 5, Section 243
Contingency reserves. (1) Any domestic life company may accumulate and maintain in addition to an amount equal to the net value of its participating...
- Illinois Insurance Code. - 215 ILCS 5, Section 244
Limitation of expenses for life companies. (1) No life company authorized to do business in this State shall make or incur acquisition expenses in...
- Illinois Insurance Code. - 215 ILCS 5, Section 244.1
Whenever the financial condition of any company transacting the kinds of business authorized in Class 1 of Section 4, when reviewed in conjunction with...
- Illinois Insurance Code. - 215 ILCS 5, Section 245
Salaries; pensions. (1) No domestic life company shall directly or indirectly pay any salary, compensation or emolument to any officer, trustee or director thereof,...
- Illinois Insurance Code. - 215 ILCS 5, Section 245.1
Assignability of life insurance. No provision of the Illinois Insurance Code, or any other law prohibits an insured under any policy of life insurance, or...
- Illinois Insurance Code. - 215 ILCS 5, Section 245.2
Not-for-profit organizations; beneficiary of insurance on member's life. Members of not-for-profit organizations that are exempt from taxation as described in paragraph (3), (4), (5),...
Last modified: February 18, 2015