Current through the 2023 Regular Session
Section 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;(m) requirements for replacement;(n) recurrent conditions;(p) prohibitions on limitations and exclusions;(q) extension of benefits;(r) discontinuance and replacement of policies;(t) prohibitions against postclaim underwriting;(u) minimum standards for home health and community care benefits;(v) inflation protection;(w) incontestability period; and(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.En. Sec. 5, Ch. 355, L. 1989; amd. Sec. 13, Ch. 416, L. 1997.