17B:27E-8. Conditions for delivery, issuance of policy
8. a. Except as provided in subsection b. of this section, a long-term care insurance policy shall not be delivered or issued for delivery in this State unless the policyholder or certificate holder has been offered the option of purchasing a policy or certificate including a nonforfeiture benefit. The offer of a nonforfeiture benefit may be in the form of a rider that is attached to the policy. If the policyholder or certificate holder declines the nonforfeiture benefit, the insurer shall provide a contingent benefit upon lapse that shall be available for a specified period of time following a substantial increase in premium rates.
b.When a group long-term care insurance policy is issued, the offer required in subsection a. of this section shall be made to the group policyholder.
L.2003,c.207,s.8.
Section: Previous 17b-27e-1 17b-27e-2 17b-27e-3 17b-27e-4 17b-27e-5 17b-27e-6 17b-27e-7 17b-27e-8 17b-27e-9 17b-27e-10 17b-27e-11 17b-27e-12 17b-27f-1 17b-27f-2 17b-27f-3 Next
Last modified: October 11, 2016