Rule 20:06:21:48 Monthly report to policyholder.
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.
23 SDR 55, effective October 20, 1996.
Authority: SDCL 58-17B-4.
Implemented: SDCL 58-17B-4.
Back to 20:06:21