Section 1410 – Report to policyholder.

31A-22-1410. Report to policyholder.
A monthly report shall be provided to the policyholder any time a long-term care benefit funded through a life insurance vehicle by the acceleration of the death benefit is in benefit payment status. The report shall include:

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

• (2) an explanation of any changes in the policy due to long-term care benefits being paid out such as death benefits or cash values; and

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

Enacted by Chapter 243, 1991 General Session