Whenever long-term care benefits being paid are funded through a life insurance policy by acceleration of the death benefit, a monthly report shall be provided to the policyholder. Such 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.
1990, c. 285.
Structure Code of Virginia
Chapter 52 - Long-Term Care Insurance
§ 38.2-5201. What laws applicable
§ 38.2-5202. Promulgation of regulations; standards for policy provisions
§ 38.2-5202.1. Refund of premium for cancellation or termination of policy
§ 38.2-5203. Prohibited provisions
§ 38.2-5204. Preexisting conditions
§ 38.2-5205. Prior institutionalization
§ 38.2-5207.1. Disclosure; life insurance policies
§ 38.2-5207.2. Long-term care benefits; monthly report