62S.11 MONTHLY REPORT.
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/mn/chapter-62/62s-11A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
62S.11 MONTHLY REPORT.
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Subdivision 1. Required report.
Any time a long-term care benefit, funded through a life insurance vehicle by the acceleration of the death benefit, is in benefit payment status, a monthly report must be provided to the policyholder.
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Subd. 2. Contents.
The report must include the following information:
(1)long-term care benefits paid out during the month;
(2)an explanation of changes in the policy, such as death benefits or cash values, due to long-term care benefits being paid out; and
(3)the amount of long-term care benefits existing or remaining.