Insurance — dividends, policy requirements

Posted December 21, 2018 2:28 PM

Where life insurance policies allowed for the issuance of dividends from policy surpluses, but did not specify dividend amounts in the policy, they complied with the Illinois Insurance Code.The 7th U.S. Circuit Court of Appeals affirmed a decision by U.S. District Judge Robert W. Gettleman.Rick Ochoa and Irene Anderson hold participating life insurance policies from State Farm Life Insurance Co. and Country Life Insurance Co. The policies guarantee policyholders annual dividends from their insurers’ surpluses, but …

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