Anytime 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 shall be provided to the policyholder. The report shall include:

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

(Added 2003, No. 124 (Adj. Sess.), § 2, eff. Jan. 1, 2005.)