58-17B-13. Endorsement required--Cost-of-living adjustment not required.
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/sd/title-58/chapter-58-17/58-17b-13·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any long - term care policy offered for sale in this state shall offer as an endorsement an annual cost - of - living adjustment in daily benefits paid.
Nothing in this section requires an insurer that offers a long - term care policy which pays benefits on an expense - incurred basis or which is a life insurance policy with long - term care benefits as a part of the life policy or a rider to the life policy to offer a cost - of - living adjustment.