S.D. Admin. R. 20:06:21:23

Current through Register Vol. 51, page 67, December 16, 2024

Section 20:06:21:23 - Disclosure of renewability

Individual long-term care insurance policies shall contain a renewability provision. The provision must be captioned, must appear on the first page of the policy, and must clearly state that the coverage is guaranteed renewable or noncancellable.

This section does not apply to policies under which the right to nonrenew is reserved solely to the policyholder and which do not contain a renewability provision. This paragraph applies to long-term care policies which are part of or combined with life insurance policies which do not contain renewability provisions.

S.D. Admin. R. 20:06:21:23

22 SDR 97, effective 12/18/1995; 44 SDR 184, effective 6/25/2018

General Authority: SDCL 58-17B-4.

Law Implemented: SDCL 58-17B-10.