Indiana Code
Chapter 12. Long Term Care Insurance
27-8-12-14.5. Policy Summary; Requirements

Sec. 14.5. (a) A policy summary shall be delivered, at the time of policy delivery, for an individual life insurance policy that provides long term care benefits within the policy or by a rider.
(b) The insurer shall deliver the policy summary upon the applicant's request when there is a direct response solicitation. If there is no request, the insurer shall deliver the policy summary not later than when the policy is delivered.
(c) The policy summary must include the following:
(1) An explanation of how long a long term care benefit interacts with other components of the policy, including deductions from a death benefit.
(2) An illustration of the amount of a benefit, the length of a benefit, and the guaranteed lifetime benefits for each covered person.
(3) Any exclusion, reduction, and limitation on benefits of long term care.
(d) A policy summary required under this section must also include the following information if applicable:
(1) A disclosure of any effect of exercising rights under the policy other than rights referred to in subsection (c).
(2) A disclosure of any guarantee related to long term care costs of insurance charges.
(3) Current and projected maximum lifetime benefits.
As added by P.L.114-1991, SEC.17.

Structure Indiana Code

Indiana Code

Title 27. Insurance

Article 8. Life, Accident, and Health

Chapter 12. Long Term Care Insurance

27-8-12-1. "Applicant" Defined

27-8-12-2. "Certificate" Defined

27-8-12-3. "Certificate Holder" Defined

27-8-12-4. "Insurance Policy" Defined

27-8-12-4.5. "Long Term Care Facility" Defined

27-8-12-5. "Long Term Care Insurance Policy" Defined

27-8-12-6. Compliance With Statutory Requirements

27-8-12-7. Policy Disclosure Standards; Marketing Practices; Continuing Education; Penalties; Reporting Practices; Rules

27-8-12-7.1. Qualification of Long Term Care Policies; Rules

27-8-12-8. Loss Ratio Standards Rule

27-8-12-9. Termination of Policy on Grounds of Age or Deteriorated Health

27-8-12-10. "Preexisting Condition" Defined; Exclusion of Coverage; Limitations

27-8-12-10.5. Loss or Confinement Resulting From a Preexisting Condition; Exclusion of Coverage; Limitation Period; Rules

27-8-12-10.6. Conditions on Eligibility for Benefits; Restrictions

27-8-12-11. Establishment of New Waiting Period

27-8-12-12. No Obligation Return Period; Notice

27-8-12-13. Direct Response Solicitation Issued Policies; No Obligation Return Period; Notice

27-8-12-14. Outline of Coverage; Contents

27-8-12-14.5. Policy Summary; Requirements

27-8-12-14.6. Benefits Funded Through Life Insurance by Acceleration of Death Benefits; Benefit Payment Status Report; Contents

27-8-12-15. Group Policy Certificate; Contents

27-8-12-16. Application of General Insurance Law

27-8-12-17. Group Policies Issued in Another State; Requirements

27-8-12-18. Insurance Producer Commissions

27-8-12-19. Violations; Civil Penalty; Amount