Rule 20:06:21:38 Disclosure of riders and endorsements.
20:06:21:38. Disclosure of riders and endorsements.
Except for riders or endorsements by which the insurer effectuates a request
made in writing by the insured under an individual long-term care insurance
policy, all riders or endorsements added to an individual long-term care
insurance policy after the date of issue or at reinstatement or renewal which
reduce or eliminate benefits or coverage in the policy must have a signed
acceptance by the individual insured. After the date of policy issue, any rider
or endorsement which increases benefits or coverage with a concomitant increase
in premium during the policy term must be agreed to in writing and signed by
the insured unless the increased benefits or coverage are required by law. If a
separate additional premium is charged for benefits provided in connection with
riders or endorsements, the premium charge must be specified in the policy,
rider, or endorsement.
23 SDR 55, effective October 20, 1996.
Authority: SDCL 58-17B-4.
Implemented: SDCL 58-17B-4, 58-17B-10.
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