58-55-70. Disclosure notices.
(a) Prior to making a change requested by the policyholder to a qualified long-term care partnership policy that would result in the loss to the policy of qualified policy status, the insurer shall provide to the policyholder a written explanation within 30 calendar days of how this action would affect the insured and shall obtain the insured's signature indicating consent to the change.
(b) If a qualified long-term care partnership policy subsequently loses qualified policy status, the insurer shall explain in writing within 30 calendar days to the policyholders the reason for the loss of status.
(c) The disclosures required in this section shall be provided to any insured who exchanges a policy for a qualified long-term care partnership policy. (2010-68, s. 4.)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 55 - Long-Term Care Insurance.
§ 58-55-25 - Limits of group long-term care insurance.
§ 58-55-30 - Disclosure and performance standards for long-term care insurance.
§ 58-55-31 - Additional requirements.
§ 58-55-35 - Facilities, services, and conditions defined.
§ 58-55-50 - Rules for compliance with federal law and regulations.
§ 58-55-60 - Qualified long-term care partnership policy.
§ 58-55-65 - Compliance with federal regulations.
§ 58-55-70 - Disclosure notices.
§ 58-55-75 - Exchange of long-term care policies for long-term care partnership policies.