If a long-term care insurance policy or certificate replaces another long-term care policy or certificate, the replacing insurer shall waive any time periods applicable to preexisting conditions and probationary periods in the new long-term care policy for similar benefits to the extent that similar exclusions have been satisfied under the original policy.

Source. #8036, eff 5-1-04; ss by #10154, eff 6-25-12; ss by #13400, eff 6-22-22