Illinois Administrative Code
Title 50 - INSURANCE
Part 3601 - REQUIREMENTS
Section 3601.40 - Benefit Schedules

Universal Citation: 50 IL Admin Code ยง 3601.40

Current through Register Vol. 48, No. 12, March 22, 2024

a) Each trust established and approved pursuant to the Act shall establish benefit schedules for each type of protection against the risk of financial loss available to each beneficiary. Each benefit schedule shall clearly indicate that evaluations of each request for payment shall be conducted in accordance with a standardized written procedure. Each beneficiary shall receive the appropriate benefit schedule together with any amendments or modifications made to those schedules.

b) All benefits payable in accordance with the benefit schedules shall be subject to all claims practice standards contained in the Illinois Insurance Code and any Rule promulgated thereunder. The trust administrator shall maintain a file for each payment request made by each beneficiary and the file shall contain all relevant documents necessary to clearly reconstruct all events surrounding the request for payment.

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