State RegulationsIL specificDifficulty 1/5
Which Illinois authority establishes the disclosure regime for Medicare supplement policies?
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Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
Disclosure requirements for Medicare supplement policies in Illinois are set by 50 Ill. Adm. Code 2008, working together with the statutory framework of 215 ILCS 5/363 and 215 ILCS 5/363a and the producer-related registration provision at 215 ILCS 5/500-75. The Illinois Department of Insurance administers this regime so applicants receive the information needed to compare Medicare supplement coverage.
Why the other options are wrong
- A) 50 Ill. Adm. Code 917 governs life insurance replacement transactions, not Medicare supplement disclosure.
- B) 215 ILCS 5/224 contains the standard provisions for life insurance policies, a different product line entirely.
- D) 50 Ill. Adm. Code 909 regulates life insurance advertising, not Medicare supplement disclosure.
Memory hook
Two-thousand-eight tells you what to state: Reg. 2008 governs Med supp disclosure.