S.D. Admin. R. 20:06:21:48

Current through Register Vol. 51, page 57, November 12, 2024

Section 20:06:21:48 - Monthly report to policyholder

If a long-term care benefit funded through a life insurance vehicle by the acceleration of the death benefit is in benefit payment status, the insurer must provide a monthly report to the policyholder. The report must include:

(1) Any long-term care benefits paid out during the month;

(2) An explanation of any changes in the policy, e.g., death benefits or cash values, caused by long-term care benefits being paid out; and

(3) The amount of long-term care benefits existing or remaining.

S.D. Admin. R. 20:06:21:48

23 SDR 55, effective 10/20/1996.

General Authority: SDCL 58-17B-4.

Law Implemented: SDCL 58-17B-4.