N.M. Admin. Code § 13.9.15.7

Current through Register Vol. 35, No. 24, December 23, 2024

Section 13.9.15.7 - DEFINITIONS

In addition to the definitions in NMSA 1978 Section 59A-20A-2, as used in this rule:

A. chronically ill means:

(1) being unable to perform at least two (2) activities of daily living (i.e., eating, toileting, transferring, bathing, dressing or continence);

(2) requiring substantial supervision to protect the individual from threats to health and safety due to severe cognitive impairment; or

(3) having a level of disability similar to that described in paragraph (1) of subsection A of 13.9.15.7 NMAC as determined by the Secretary of Health and Human Services;

B. insured means the person covered under the policy being considered for viatication;

C. life expectancy means the mean of the number of months the individual insured under the life insurance policy to be viaticated can be expected to live as determined by the viatical settlement provider considering medical records and appropriate experiential data;

D. net death benefit means the amount of the life insurance policy or certificate to be viaticated less any outstanding debts or liens;

E. patient identifying information means an insured's name, address, telephone number, facsimile number, electronic mail address, photograph or likeness, employer, employment status, social security number, or any other information that is likely to lead to the identification of the insured; and

F. terminally ill means having an illness or sickness that can reasonably be expected to result in death in twenty-four (24) months or less.

N.M. Admin. Code § 13.9.15.7

13.9.15.7 NMAC - N, 7-1-00