INS SMALL LIFE POLICIES
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.
Bill status
failed
1 of 4 stages cleared
Introduction
Feb 2003
Committee Review
Floor Vote
Governor
Introduced Feb 28, 2003
Last action Jan 11, 2005
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
6
Key actions
0
Committee
3
Jan 11, 2005
House · Failed
Session Sine Die
Mar 13, 2003
House · Referred to committee
Rule 19(a) / Re-referred to Rules Committee
Mar 5, 2003
House · Referred to committee
Assigned to Insurance Committee
Feb 28, 2003
House · Referred to committee
Referred to Rules Committee
0 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
Co
Frank J. Mautino
DDemocratic
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