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Current as of January 01, 2025 | Updated by Findlaw Staff
(a) Insurers shall ensure that agents offering, marketing, or selling accelerated death benefits on their behalf are able to describe the differences between benefits provided under an accelerated death benefit and benefits provided under long-term care insurance, as follows:
(1) The difference between the benefits afforded to an insured through an accelerated death benefit and a long-term care insurance policy or rider.
(2) The differences between benefit eligibility criteria.
(3) Whether an elimination period applies to either an accelerated death benefit or long-term care insurance and a description of the elimination period.
(4) The benefits under the accelerated death benefit or long-term care insurance if benefits are never needed.
(5) The benefits under the accelerated death benefit or long-term insurance if benefits are needed.
(6) Restrictions on benefit amounts.
(7) Tax treatment of benefits.
(8) Income and death benefit considerations.
(b) Completion of California agent education or continuing education for long-term care insurance shall meet the requirements of this section.
Cite this article: FindLaw.com - California Code, Insurance Code - INS § 10295.12 - last updated January 01, 2025 | https://codes.findlaw.com/ca/insurance-code/ins-sect-10295-12/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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