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.

[1-1-99; 13.10.15.42 NMAC - Rn, 13 NMAC 10.15.39, 1-1-04]