1. (a) Whenever a long-term care benefit that is funded through a life insurance vehicle by the acceleration of the death benefit is in benefit payment status, the carrier shall provide a monthly report to the policyholder.

2. (b) A report under this section shall include:

   1. (1) any long-term care benefits paid out during the month;
   2. (2) an explanation of any changes in the policy, including changes to death benefits or cash values, that result from the payment of long-term care benefits; and
   3. (3) the amount of long-term care benefits that remain.

Added by Acts 1997, c. 35, § 2, eff. Oct. 1, 1997.

Formerly Art. 48A, § 647A.