Exams / Illinois Life Insurance Producer License / 215 ILCS 5/228

215 ILCS 5/228 — what it says, and how the exam tests it

This section is cited by 2 of our practice questions and is tested on 5 exams including the Illinois Life Insurance Producer License.

The text

215 ILCS 5/228. (from Ch. 73, par. 840) Sec. 228. Industrial Life Insurance Defined. As used in this Code "industrial life insurance" means either that form of life insurance under which the premiums are payable monthly or more often if the face amount of insurance provided in the policy does not exceed $2,500 and the words "industrial policy" are printed in prominent type on the face of the policy. Any life company authorized to do business in this State may issue industrial policies. (Source: P.A. 82-498.)

Public record. Read the full, current section at the official source: www.ilga.gov

How it comes up on the exam

Practice questions written from this section — answers and explanations are in the drill.

  1. Under Section 228, what is the maximum face amount of insurance that may be provided in an industrial life insurance policy?
    drill Illinois Statutes and Regulations Pertinent to Life Insurance Only →
  2. Under Illinois law, industrial life insurance is defined as life insurance with premiums payable monthly or more often if the face amount does NOT exceed what amount?
    drill Illinois Statutes and Regulations Pertinent to Life Insurance Only →

Exams that test this section