Ill. Admin. Code tit. 50, pt. 2002, app A, ILLUSTRATION KK

Current through Register Vol. 48, No. 52, December 27, 2024

Guideline to Section 2002.160(a)(4)

a) This Section defines the meaning of "a particular insurance product" in Section 2002.160(a)(2) and prohibits advertising of products having minor variations, such as different elimination periods or different amounts of daily hospital indemnity benefits, in a succession of enrollment periods.

b) To determine if one product is substantially different than another, the products must be compared as to primary benefits offered. For example, if one hospital indemnity policy has a $30/day benefit and a return of premium benefit, it is substantially similar to one having a $100/day benefit with no return of premium benefit. A hospital expense policy as compared with a hospital indemnity plan is substantially different.