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Illinois · Through at least Public Act 104-790

215 ILCS 159/40: Disclosure to insurer.

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Where this section sits in the code
  1. CHAPTER 215 INSURANCE
  2. Viatical Settlements Act of 2009.

Prior to the initiation of a plan, transaction, or series of transactions a viatical settlement broker or viatical settlement provider shall fully disclose to an insurer a plan, transaction, or series of transactions to which the viatical settlement broker or viatical settlement provider is a party to originate, renew, continue, or finance a life insurance policy with the insurer for the purpose of engaging in the business of viatical settlements at any time prior to or during the first 2 years after issuance of the policy. The viatical settlement provider, viatical settlement broker, viator, or applicant for a policy shall, when requested, disclose that the prospective insured has undergone a life expectancy evaluation in connection with the issuance of a policy by a person or entity other than the insurer or its authorized representative. Any disclosure required under this Section must be made in writing.

Collected 2026-09-15T04:46:30Z. Source file · JSON

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