Arkansas Code Title 23, Subtitle 3, Chapter 97, Subchapter 3 - Long-Term Care Insurance Act of 2005

• § 23-97-301 - Short Title.
  This subchapter shall be known and may be cited as the "Long-Term Care Insurance Act of 2005".
• § 23-97-302 - Purpose.
  The purpose of this subchapter is to: (1) Promote the public interest; (2) Promote the availability of long-term care insurance policies; (3) Protect applicants...
• § 23-97-303 - Scope.
  (a) The requirements of this subchapter apply to policies delivered or issued for delivery in this state on or after August 12, 2005.(b) Except...
• § 23-97-304 - Definitions.
  As used in this subchapter: (1) "Applicant" means: (A) In the case of an individual long-term care insurance policy, the person who seeks to...
• § 23-97-305 - Requirements for Associations.
  (a) Prior to advertising, marketing, or offering a policy within this state, an association or the insurer of the association shall file evidence with...
• § 23-97-306 - Extraterritorial Jurisdiction -- Group Long-Term Care Insurance.
  No group long-term care insurance coverage may be offered to a resident of this state under a group policy issued in another state unless...
• § 23-97-307 - Disclosure and Performance Standards for Long-Term Care Insurance.
  (a) The Insurance Commissioner may adopt regulations for long-term care insurance that include, but are not limited to, standards for full and fair disclosure...
• § 23-97-308 - Preexisting Condition.
  (a) No long-term care insurance policy or certificate other than a policy or certificate issued to a group approved by the Insurance Commissioner under...
• § 23-97-309 - Prior Hospitalization or Institutionalization.
  (a) No long-term care insurance policy shall be delivered or issued for delivery in this state if the policy: (1) Conditions eligibility for any...
• § 23-97-310 - Loss Ratio Standards.
  (a) The Insurance Commissioner may adopt rules establishing loss ratio standards for long-term care insurance policies.(b) A specific reference to long-term care insurance policies...
• § 23-97-311 - Right to Return -- Free Look.
  (a) Long-term care insurance applicants shall have the right to return the policy or certificate within thirty (30) days of its delivery and to...
• § 23-97-312 - Outline of Coverage.
  (a) (1) An outline of coverage shall be delivered to a prospective applicant for long-term care insurance at the time of initial solicitation through...
• § 23-97-313 - Certificates.
  A certificate issued for delivery in this state under a group long-term care insurance policy shall include: (1) A description of the principal benefits...
• § 23-97-314 - Delivery of Policy and Summary -- Disclosures.
  (a) If an application for a long-term care insurance contract or certificate is approved, the issuer shall deliver the contract or certificate of insurance...
• § 23-97-315 - Acceleration of Death Benefit.
  (a) Any time a long-term care benefit funded through a life insurance vehicle by the acceleration of the death benefit is in benefit payment...
• § 23-97-316 - Denial of Claims.
  If a claim under a long-term care insurance contract is denied, within sixty (60) days of the date of a written request by the...
• § 23-97-317 - Offer of Long-Term Care or Nursing Home Insurance.
  Any policy or rider advertised, marketed, or offered as long-term care or nursing home insurance shall comply with the provisions of this subchapter.
• § 23-97-318 - Incontestability Period.
  (a) An insurer may rescind a long-term care insurance policy or certificate or deny an otherwise valid long-term care insurance claim if: (1) The...
• § 23-97-319 - Nonforfeiture Benefits.
  (a) (1) Except as provided in subsection (b) of this section, a long-term care insurance policy may not be delivered or issued for delivery...
• § 23-97-320 - Authority to Promulgate Regulations.
  The Insurance Commissioner shall issue rules for long-term care insurance to: (1) Promote premium adequacy; (2) Protect the policyholder in the event of substantial...
• § 23-97-321 - Penalties.
  In addition to any other penalties provided by the laws of this state, any insurer or agent found to have violated any requirement of...

Last modified: November 15, 2016