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Code · Illinois · Chapter 215 — INSURANCE · Act 5

Sec. 234.1. (Notice of the Enactment of a Non-Forfeiture Option.

62 words·~1 min read·/il/chapter-215/act-5/234-1

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Sec. 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 is given to the policyowner which explains this action and refers the policyowner to the other available options, if any, under the provisions of the policy. Evidence of this notice shall be maintained by the insurer.
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