§ 18-108. Summaries of long-term care benefits in life insurance policies

   (a) Required. -- If long-term care benefits are part of a life insurance policy or rider, the carrier shall provide a policy summary at the time of policy delivery.

(b) Contents. -- The policy summary required to be delivered under subsection (a) of this section shall include:

   (1) information required to be included in an outline of coverage under § 18-106 of this title;

   (2) an explanation of how the long-term care benefits interact with other components of the life insurance policy, including deductions from death benefits;

   (3) an illustration of the amount of benefits, length of benefit, and guaranteed lifetime benefits if any, for each covered individual;

   (4) any exclusions, reductions, or limitations on benefits of long-term care; and

   (5) if applicable to the policy type:

      (i) a disclosure of the effects of exercising other rights under the policy;

      (ii) a disclosure of guarantees related to long-term care costs of insurance charges; and

      (iii) current and projected maximum lifetime benefits.

HISTORY: An. Code 1957, art. 48A, § 647, 647A; 1997, ch. 35, § 2.