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Statutes Text

Article - Insurance




§18–117.

    (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.



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