1. (1) The commissioner may by rule adopt standards for full and fair disclosure, setting forth the manner, content, and disclosures required to be made in a long-term care insurance policy, including but not limited to:

   1. (a) terms of renewability;
   2. (b) initial and subsequent conditions of eligibility;
   3. (c) nonduplication of coverage provisions;
   4. (d) coverage of dependents;
   5. (e) preexisting conditions;
   6. (f) termination of insurance;
   7. (g) continuation or conversion;
   8. (h) probationary periods;
   9. (i) limitations;
   10. (j) exceptions;
   11. (k) reductions;
   12. (l) elimination periods;
   13. (m) requirements for replacement;
   14. (n) recurrent conditions;
   15. (o) definition of terms;
   16. (p) prohibitions on limitations and exclusions;
   17. (q) extension of benefits;
   18. (r) discontinuance and replacement of policies;
   19. (s) unintentional lapse;
   20. (t) prohibitions against postclaim underwriting;
   21. (u) minimum standards for home health and community care benefits;
   22. (v) inflation protection;
   23. (w) incontestability period; and
   24. (x) tax consequences.
2. (2) A group long-term care insurance policy must include a provision relating to conversion on termination of eligibility as described in 33-22-508 or include a provision for continuation of coverage that maintains coverage under the existing group policy if the coverage would otherwise terminate.

History: En. Sec. 5, Ch. 355, L. 1989; amd. Sec. 13, Ch. 416, L. 1997.