Current with changes from the 2024 Legislative Session
Section 18-117 - Reports about benefits funded by acceleration of death benefits(a) Whenever a long-term care benefit that is funded through a life insurance vehicle by the acceleration of the death benefit is in benefit payment status, the carrier shall provide a monthly report to the policyholder.(b) A report under this section shall include:(1) any long-term care benefits paid out during the month;(2) an explanation of any changes in the policy, including changes to death benefits or cash values, that result from the payment of long-term care benefits; and(3) the amount of long-term care benefits that remain.