state_legiscan_drain · IL
CONTINGENT DEFERRED ANNUITIES
January 16, 2026
Summary
If enacted, this bill would exempt contingent deferred annuities from the Illinois Standard Nonforfeiture Law for Individual Deferred Annuities, while granting the Director of Insurance rulemaking authority to adopt nonforfeiture benefits for these products. The Director would set rules that are equitable to contract holders, appropriate to the risks insured, and consistent with the intent of existing annuity nonforfeiture provisions. This affects insurers and consumers of contingent deferred annuities in Illinois.
AI-generated summary · Aug 2, 2026. Verify with your compliance counsel before acting.
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Source: https://www.ilga.gov/Legislation/BillStatus?DocNum=2872&GAID=18&DocTypeID=SB&SessionID=114&GA=104
Common questions
- What does "CONTINGENT DEFERRED ANNUITIES" cover?
- If enacted, this bill would exempt contingent deferred annuities from the Illinois Standard Nonforfeiture Law for Individual Deferred Annuities, while…
- When was it published?
- It was published on January 16, 2026.