Ill. Admin. Code tit. 50 § 917.20
Current through Register Vol. 48, No. 18, May 3, 2024
The purpose of this Part is:
a) To regulate the activities of insurers and insurance producers with respect to the replacement of existing life insurance or annuities;b) To protect the interests of life insurance and annuity policyowners by establishing minimum standards of conduct to be observed in the replacement or proposed replacement of existing life insurance by:1) Assuring that the policyowner receives information with which a decision can be made in his or her own best interest;2) Reducing the opportunity for misrepresentation and incomplete disclosures.Ill. Admin. Code tit. 50, § 917.20
Amended at 26 Ill. Reg. 16504, effective October 28, 2002