33-22-1113. Disclosure and performance standards for long-term care insurance.
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33-22-1113 . Disclosure and performance standards for long-term care insurance.
(1)The commissioner may by rule adopt standards for full and fair disclosure, setting forth the manner, content, and disclosures required to be made in a long-term care insurance policy, including but not limited to:
(a)terms of renewability;
(b)initial and subsequent conditions of eligibility;
(c)nonduplication of coverage provisions;
(d)coverage of dependents;
(e)preexisting conditions;
(f)termination of insurance;
(g)continuation or conversion;
(h)probationary periods;
(i)limitations;
(j)exceptions;
(k)reductions;
(l)elimination periods;
(m)requirements for replacement;
(n)recurrent conditions;
(o)definition of terms;
(p)prohibitions on limitations and exclusions;
(q)extension of benefits;
(r)discontinuance and replacement of policies;
(s)unintentional lapse;
(t)prohibitions against postclaim underwriting;
(u)minimum standards for home health and community care benefits;
(v)inflation protection;
(w)incontestability period; and
(x)tax consequences.
(2)A group long-term care insurance policy must include a provision relating to conversion on termination of eligibility as described in 33-22-508 or include a provision for continuation of coverage that maintains coverage under the existing group policy if the coverage would otherwise terminate.