Illinois Company Bulletin 2025-14

JB PRITZKER ANN GILLESPIE Governor Director TO: All Companies Writing Credit Life Insurance FROM: Ann Gillespie, Director DATE: 7/9/2025 RE: Company Bulletin 2025-14 - Required Rate and Form Filings for Amendments to 50 Ill. Adm. Code 1051 The Illinois Department of Insurance (“Department”) has recently amended its rules at 50 Ill. Adm. Code 1051 to change the permitted policy exclusions and prima facie premium rates for credit life insurance.1 The Department will withdraw approval of all previously approved policy forms and rate filings that remain in conflict with the Department’s amended rule effective at close of business on August 20, 2025. The Department urges companies with policy forms or rate filings that do not comply with the amended rule to submit updated filings as soon as possible. If a company’s previously approved policy does not comply, the company may choose to file either a new policy or a rider or endorsement to the existing policy. No new policy form filing is needed if a company’s previously approved filing does not contain exclusions prohibited by the amended rule and if it otherwise complies with currently applicable law or regulation. A new rate filing is needed from each company whose current rate exceeds the amended prima facie rate for the applicable type of policy, even if the Department previously approved the company to charge a rate in excess of the old prima facie rate. For questions about this Company Bulletin, please direct emails to DOI.InfoDesk@illinois.gov. 1 49 Ill. Reg. 7938: https://www.ilsos.gov/departments/index/register/volume49/register_volume49_23.pdf. Illinois Department of Insurance