Subd. 1. Required report.

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, a monthly report must be provided to the policyholder.

Subd. 2. Contents.

The report must include the following information:(1) long-term care benefits paid out during the month;(2) an explanation of changes in the policy, such as death benefits or cash values, due to long-term care benefits being paid out; and(3) the amount of long-term care benefits existing or remaining.