IL HB5825

Amends the Illinois Marriage and Dissolution of Marriage Act Section 503 to address life insurance beneficiary designations in divorce proceedings.

Automatically revokes beneficiary designations naming the former spouse on non-marital life insurance policies upon entry of a divorce or annulment order, unless the court orders otherwise or the insured affirmatively designates otherwise in signed writing after the order.

If a death benefit is prevented from passing to a former spouse under this provision, the insurance payor shall distribute the benefit as if the former spouse had predeceased the insured, according to the contract terms.

Exempts life insurance policies contracted specifically to secure maintenance or child support obligations from the automatic revocation provision.