Iowa Admin. Code r. 191-39.21

Current through Register Vol. 47, No. 13, December 25, 2024

Rule 191-39.21 - Reporting requirement for long-term care benefits funded through life insurance by acceleration of the death benefit

Any time a long-term care benefit, funded through life insurance which 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. Any long-term care benefits paid out during the month;

2. An explanation of any changes in the policy, e.g., 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.

Iowa Admin. Code r. 191-39.21