Illinois Administrative Code

Section 929.50 Exemption from Filings a) A company is not required to file under this Part for individual risks in this State that cannot be rated in the normal course of business because of special or unusual characteristics, as provided in Section 456(1)(c) of the Code and that…

Section 930.10 Authority This Part is adopted and promulgated by the Director of Insurance pursuant to Section 401 and Article XXVI of the Illinois Insurance Code [215 ILCS 5/421 and 401] relating to unfair methods of competition and unfair deceptive acts and practices. (Source: …

Section 930.20 Purpose a) The purpose of this Part is to require insurers to deliver to purchasers of life insurance, information which will improve the buyer's ability to select the most appropriate plan of life insurance for his needs, improve the buyer's understanding of the b…

Section 930.30 Scope a) This Part shall apply to any solicitation, negotiation or procurement of life insurance occurring within this State. This Part shall apply to any issuer of life insurance contracts including fraternal benefit societies. b) This Part shall not apply to: 1) …

Section 930.40 Definitions For the purposes of this Part, the following definitions shall apply: a) Buyer's Guide. A Buyer's Guide is a document that contains the language contained in Exhibit A or the National Association of Insurance Commissioner's (NAIC) Life Insurance Buyer's…

Section 930.50 Disclosure Requirements a) Except in the case of a direct response insurance product, the insurer shall provide, to all applicants, a Buyer's Guide prior to accepting the applicant's initial premium or premium deposit. The Buyer's Guide must be delivered with a dir…

Section 930.60 Preneed Funeral Contracts or Prearrangements a) The following information shall be given in writing to the applicant at the time an application is made, prior to accepting the applicant's initial premium or deposit for a preneed funeral contract or prearrangement a…

Section 930.70 General Rules a) Each insurer shall maintain at its home office or principal office, a complete file containing one copy of each document authorized by the insurer for use pursuant to this Part. Such file shall contain one copy of each authorized form for a period …

Section 930.80 Life Insurance Buyer's Guide, Language and Content The form requirements of the Life Insurance Buyer's Guide are found in Exhibit A or Exhibit B of this Part. The reproduction of the Buyer's Guide should be as specified in Exhibit A or Exhibit B, except that the de…

Section 930.90 Failure to Comply Failure of an insurer to provide or deliver a Buyer's Guide, or a Policy Summary as provided in Section 930.50 shall constitute an omission which misrepresents the benefits, advantages, conditions or terms of an insurance policy. (Source: Amended …

Section 930.EXHIBIT A Life Insurance Buyer's Guide (The face page of the Buyer's Guide shall read as follows) LIFE INSURANCE BUYER'S GUIDE This guide can show you how to save money when you shop for life insurance. It helps you to: • Decide how much life insurance you should buy,…

Section 931.10 Authority The purpose of this Part is to implement Section 143c of the Illinois Insurance Code (Code) [215 ILCS 5], which requires insurance companies to provide certificate holders or policy holders with "written notice" regarding where to file a complaint. (Sourc…

Section 931.20 Scope a) This Part shall apply to all companies authorized to transact insurance business as set forth in Classes 1, 2 or 3 of Section 4 of the Illinois Insurance Code [215 ILCS 5], except for those lines of insurance enumerated in Section 931.50 of this Part. b) T…

Section 931.30 Form of Notification The requirement of providing "written notice " shall be satisfied by: a) Any printed notice delivered with a policy or certificate; b) Any adhering label attached to a policy or certificate; c) Any computerized notice issued concurrently with a…

Section 931.40 Notification Requirements In the required notice: a) Companies shall use the contact information for the Department of Insurance explicitly stating "You may file a consumer complaint online at the Illinois Department of Insurance's website or by mail. The Departmen…

Section 931.50 Exceptions The following types of insurance are exempted from this Part: a) Ocean Marine; b) Fidelity and Surety; c) Commercial Inland Marine risks which, by general custom, are not written according to manual rates or rating plans. (Source: Amended at 49 Ill. Reg.…

Section 931.60 Severability If any Section or portion of a Section of this Part, or applicability thereof to any person or circumstance, is held invalid by a court, the remainder of the Part, or the applicability of such provision or circumstance, shall not be affected thereby.

Section 932.10 Authority This Part is issued by the Director of Insurance pursuant to Section 401 of the Illinois Insurance Code, which empowers the Director to make reasonable Rules and Regulations as may be necessary for making effective the insurance laws of this State. This P…

Section 932.20 Definitions Anti-Theft Mechanism means any passive or active anti-theft system and passive or active anti-theft devices permanently installed, either as original equipment from the manufacturer or as after market equipment on the vehicle, that is designed to inhibi…

Section 932.30 Scope This Part applies to all private passenger motor vehicles and to pick-up trucks rated as private passenger automobiles, and policies of automobile insurance as described in Section 143.13(a) of the Illinois Insurance Code [215 ILCS 5/143.13(a)]. (Source: Amen…

Section 932.40 Discounts to Qualified Motor Vehicles All insurance companies issuing policies of automobile insurance, as defined in Section 143.13(a) of the Illinois Insurance Code [215 ILCS 5/143.13(a)], that insure automobiles that are equipped with anti-theft mechanisms shall…

Section 932.50 General Rules Applicable To All Anti-Theft Mechanisms a) Unless otherwise specified, if two or more anti-theft mechanisms are installed to the same vehicle, the total discounts shall be that applicable to the anti-theft mechanism for the highest discount. b) Insure…

Section 932.60 Types of Anti-Theft Devices Qualifying for Discounts (Repealed) (Source: Repealed at 28 Ill. Reg. 4207, effective February 23, 2004)

Section 932.70 Severability Provision If any Section or portion of a Section of this Part or the applicability thereof to any person or circumstance is held invalid by a court, the remainder of the Part or the applicability of such provision to other persons or circumstances shal…

Section 934.10 Authority This Part is promulgated by the Director of Insurance pursuant to Sections 223, 229.2 and 401 of the Illinois Insurance Code (Ill. Rev. Stat. 1983 and 1984 Supp., ch. 73, pars. 835, 841.2 and 1013).

Section 934.20 Purpose The purpose of the Part is to permit the use of mortality tables that reflect differences in mortality between smokers and nonsmokers in determining minimum reserve liabilities and minimum cash surrender values and amounts of paid-up nonforfeiture benefits …

Section 934.30 Definitions a) "1980 CSO Table, with or without Ten-Year Select Mortality Factor" means that mortality table, consisting of separate rates of mortality for male and female lives, developed by the Society of Actuaries Committee to Recommend New Mortality Tables for …

Section 934.40 Utilization of the 1958 CSO and CET Smoker and Nonsmoker Mortality Tables a) In determining minimum reserve liabilities, minimum cash surrender values and amounts of paid-up nonforfeiture benefits the 1958 CSO and CET Smoker and Nonsmoker Mortality Tables may only …

Section 934.50 Utilization of the 1980 CSO and CET Smoker and Nonsmoker Mortality Tables a) In determining minimum reserve liabilities, minimum cash surrender values and amounts of paid-up nonforfeiture benefits the 1980 CSO and CET Smoker and Nonsmoker Mortality Tables may only …

Section 934.60 Conditions For each plan of insurance with separate rates for smokers and nonsmokers, an insurance company may: a) use composite mortality tables to determine minimum reserve liabilities and minimum cash surrender values and amounts of paid-up nonforfeiture benefit…

Section 934.70 Severability If any Section or portion of a Section of this Part, or the applicability thereof to any person or circumstance, is held invalid by a court, the remainder of the Part, or the applicability of such provision or circumstance, shall not be affected thereb…

Section 935.10 Authority This Part is promulgated by the Director of Insurance pursuant to Sections 223 and 401 of the Illinois Insurance Code [215 ILCS 5/223 and 401]. (Source: Amended at 22 Ill. Reg. 16473, effective January 1, 1999)

Section 935.20 Purpose The purpose of this Part is to recognize the following mortality tables for use in determining the minimum standard of valuation of annuity and pure endowment contracts: the 1983 Table "a", the 1983 Group Annuity Mortality (1983 GAM) Table, the Annuity 2000…

Section 935.30 Definitions "1983 Table "a"" means that mortality table developed by the Society of Actuaries Committee to Recommend a New Mortality Basis for Individual Annuity Valuation and adopted as a recognized mortality table for annuities in June 1982 by the National Associ…

Section 935.40 Individual Annuity or Pure Endowment Contracts a) Except as provided in subsections (b), (c), (d) and (e), the 1983 Table "a" is recognized and approved as an individual annuity mortality table for valuation and, at the option of the company, may be used for purpos…

Section 935.45 Application of the 2012 IAR Mortality Table a) In using the 2012 IAR Mortality Table, the mortality rate for a person age x in year (2012 + n) is calculated as follows: b) The resulting shall be rounded to three decimal places per 1,000, e.g., 0.741 deaths per 1,00…

Section 935.50 Group Annuity and Pure Endowment Contracts a) Except as provided in subsections (b) and (c), the 1983 GAM Table, the 1983 Table "a" and the 1994 GAR Table are recognized and approved as group annuity mortality tables for determining the minimum standards of valuati…

Section 935.55 Application of the 1994 GAR Table In using the 1994 GAR Table, the mortality rate for a person age x in year (1994 + n) is calculated as follows: qx1994 + n = qx1994(1-AAx)n where the qx1994 and AAx are as specified in the 1994 GAR Table. (Source: Added at 22 Ill. …

Section 935.60 Severability (Repealed) (Source: Repealed at 22 Ill. Reg. 16473, effective January 1, 1999)

Section 935.70 Effective Date (Repealed) (Source: Repealed at 22 Ill. Reg. 16473, effective January 1, 1999)

Section 935.ILLUSTRATION B 2012 IAM Period Table, Male, Age Nearest Birthday 2012 IAM Period Table Male, Age Nearest Birthday AGE AGE AGE AGE 0 1.605 30 0.741 60 5.096 90 109.993 1 0.401 31 0.751 61 5.614 91 123.119 2 0.275 32 0.754 62 6.169 92 137.168 3 0.229 33 0.756 63 6.759 9…

Section 936.10 Purpose The purpose of this Part is to establish notification procedures and supplemental reporting requirements for property and casualty insurance companies.

Section 936.20 Applicability This Part shall apply to all companies authorized to transact the classes of business as set forth in Class 2 or Class 3 of Section 4 of the Illinois Insurance Code [215 ILCS 5/4].

Section 936.30 Definitions Annual Statement means that statement required by Section 136 of the Illinois Insurance Code [215 ILCS 5/136] to be filed annually by the company with the Office of the Director. Direct Premium Income means any written premium shown for a property and c…

Section 936.40 Notification Procedures a) A company having direct premium income for property and casualty business may be notified by the Director that supplemental reporting requirements must be met if the company meets one or more of the following categories: 1) the company ha…

Section 936.50 Reporting Requirements for Notified Property and Casualty Companies Having Direct Premium Income a) The notified company shall file a completed Exhibit A of this Part with: Financial Corporate Regulatory Division, Casualty Actuarial Section, Illinois Department of …

Section 936.60 Penalties Failure of a notified company to file the supplemental reports pursuant to Section 936.50 of this Part shall subject the notified company to the provisions of Section 403A of the Illinois Insurance Code [215 ILCS 5/403A].