IL SB1769

Amends the Illinois Insurance Code to allow insurers and producers to offer value-added products or services at no or reduced cost, even if not specified in the policy, as long as they relate to coverage and meet criteria such as loss mitigation, risk education, health enhancement, financial wellness, or post-loss services

Permits insurers and producers to give non-cash gifts, meals, or charitable donations to commercial or institutional customers in connection with insurance marketing, provided costs are reasonable compared to premiums and offers are not unfairly discriminatory

Allows insurers and producers to conduct raffles or drawings open to the public with no purchase requirement, as long as there is no cost to enter and prizes do not exceed a reasonable amount set by the Director

Authorizes pilot or testing programs of up to one year for life insurance value-added products or services when insurers have a good faith belief the offerings meet criteria, with 21-day notice to the Department required

Prohibits insurers, producers, or their representatives from offering insurance as an inducement to purchase another policy or using terms like "free" or "no cost" in advertisements