Illinois Administrative Code
Title 50 - INSURANCE
Part 2002 - ADVERTISING OF ACCIDENT AND SICKNESS INSURANCE
Appendix A - Guidelines
ILLUSTRATION KK - Guideline to Section 2002.160(a)(4)
Current through Register Vol. 48, No. 12, March 22, 2024
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.
