As used in this chapter, "qualified long term care policy" means an insurance policy that:

1. (1) provides long term care insurance;

2. (2) meets:

   1. (A) the definition set forth in IC 27-8-12-5 ; and
   2. (B) the standards established under IC 27-8-12-7.1 ; and
3. (3) is issued by an insurer or other person who complies with section 9(a) of this chapter.

As added by P.L.24-1997, SEC.53.