Sec. 21.53.200. Definitions.
In this chapter, (1) “applicant” means in the case of an individual long-term care insurance policy, the person who seeks to contract for benefits, and in the case of a group long-term care insurance policy, the proposed certificate holder; (2) “certificate” means a certificate issued under a group long-term care insurance policy that has been […]
Sec. 21.53.060. Long-term care benefits under life insurance policies; denial of claims.
(a) In addition to the requirements of AS 21.45, at the time of policy delivery, a policy summary shall be included with an individual life insurance policy if the policy or policy rider provides long-term care benefits. In the case of direct response solicitations, the insurer shall deliver the policy summary upon the applicant’s request […]
Sec. 21.53.062. Incontestability period.
(a) If a long-term care insurance policy has been in force for less than six months, an insurer may rescind the policy or deny an otherwise valid long-term care claim under the policy on a showing of misrepresentation that is material to the acceptance for coverage. (b) If a long-term care insurance policy has been […]
Sec. 21.53.064. Nonforfeiture benefits.
(a) Except as provided in (b) of this section, a long-term care insurance policy may not be delivered or issued for delivery in this state unless the policyholder has been offered the option of purchasing a policy including a nonforfeiture benefit. The insurer may offer a nonforfeiture benefit in the form of a rider to […]
Sec. 21.53.066. Producer training requirements.
(a) A person may not sell, solicit, or negotiate long-term care insurance unless the person is licensed as an insurance producer for health or life insurance lines of authority and has completed a one-time training course that meets the requirements in (d) of this section. (b) A person currently licensed and selling, soliciting, or negotiating […]
Sec. 21.53.068. Limitations related to producers and third-party administrators.
An insurer that authorizes issuance of a long-term care insurance policy by a producer or a third-party administrator under the underwriting authority of the insurer granted to the producer or third-party administrator using the insurer’s underwriting guidelines may issue a long-term care insurance policy through the producer or third-party administrator only if the insurer does […]
Sec. 21.53.070. Group long-term care insurance.
Group long-term care insurance coverage may not be offered to a resident of this state under a group policy issued in another state, unless the state in which the policy is issued has statutory or regulatory provisions applicable to group long-term care insurance that are substantially similar to this chapter and the director determines that […]
Sec. 21.53.080. Organizational requirements of associations.
An insurer, hospital or medical service corporation, or a fraternal benefit society may not issue group long-term care insurance to an association or a trust or the trustee of a fund established, created, or maintained for the benefit of members of one or more associations, unless the association or the insurer of the association files […]
Sec. 21.53.090. Required regulations.
The director shall adopt regulations regarding (1) the sale of long-term care insurance that provide minimum standards for (A) terms of renewability; (B) initial and subsequent conditions of eligibility; (C) nonduplication of coverage provisions; (D) coverage of dependents; (E) benefit triggers; (F) preexisting conditions and recurrent conditions; (G) termination of insurance, including incontestability periods; (H) […]
Sec. 21.53.010. Prohibited sale or advertising.
An insurer, hospital or medical service corporation, or fraternal benefit society may not advertise, market, sell, deliver, or offer for delivery a long-term care insurance policy unless the policy complies with this chapter, AS 21.18, AS 21.45, the health insurance requirements imposed under AS 21.51, and, if a group policy, the group health insurance requirements […]