093_HB1690

 
                                     LRB093 04832 JLS 04888 b

 1        AN ACT in relation to insurance.

 2        Be  it  enacted  by  the People of the State of Illinois,
 3    represented in the General Assembly:

 4        Section 5.  The Illinois Insurance  Code  is  amended  by
 5    changing Section 355.1 as follows:

 6        (215 ILCS 5/355.1) (from Ch. 73, par. 967.1)
 7        Sec.  355.1.   Loss  of time benefits; certain reductions
 8    prohibited.  No claim for benefits for loss of time from  the
 9    insured  person's  occupation,  under  a  group or individual
10    accident and health insurance policy delivered in this  State
11    more  than  120 days after October 1, 1973 the effective date
12    of  this  Section,  shall  be  reduced  by  reason   of   any
13    cost-of-living increase, designated as such under the Federal
14    Social  Security  Act,  if  the  such cost-of-living increase
15    occurs while the  policy's  benefits  are  payable  for  that
16    claim.
17    (Source: P.A. 78-603.)