(305 ILCS 5/12-4.12)
(from Ch. 23, par. 12-4.12)
Insurance Policies in Determination of Need.
To the extent authorized by the rules and regulations of the Illinois
Department, all or a portion of the loan or cash value of insurance
policies may be disregarded in the determination of need under Sections
3-1.2, 4-1.6, 5-4, 6-1.2 and 7-1.2. The Department may also provide, by
rule, (1) for the continuation of life insurance policies at face, cash, or
loan value amounts in excess of funeral and burial expenses, as such
expenses are governed by standards established under Section 12-4.11, and
(2) whether or not provision for continuation is made under (1), for the
taking of assignments of life insurance policies to cover an amount not in
excess of the amount of financial aid which has been, or may be, provided.
In making the determination under (1), the Department shall consider the
physical condition of the insured, the needs of the insured and his
dependents for financial aid, whether those needs will be of a temporary or
continuing nature, and the existence of any unusual circumstances which may
warrant a decision to permit such continuation.
(Source: P.A. 76-1416.)