CONTINGENT DEFERRED ANNUITIES

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Plain-English Summary

Amends the Illinois Insurance Code. Provides that specified provisions of the Standard Nonforfeiture Law for Individual Deferred Annuities shall not apply to contingent deferred annuities. Provides that, notwithstanding this exemption, the Director of Insurance shall have the authority to adopt, by rule, nonforfeiture benefits for contingent deferred annuities that are, in the opinion of the Director, equitable to the contract holder, appropriate given the risks insured, and, to the extent possi…

Source: OpenStates · fetched June 18, 2026

Votes

Sponsorship · 2 Sponsors

Democrat2Republican0Independent0Other0

D · PrimeJulie Morrison
D · PrimeMargaret DeLaRosa

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