58-17B-13. Endorsement required--Cost-of-living adjustment not required.
Any long-term care policy offered for sale in this state shall offer as an endorsement an annual cost-of-living adjustment in daily benefits paid.
Nothing in this section requires an insurer that offers a long-term care policy which pays benefits on an expense-incurred basis or which is a life insurance policy with long-term care benefits as a part of the life policy or a rider to the life policy to offer a cost-of-living adjustment.
Source: SL 1989, ch 440, §14; SL 1990, ch 398, §3.
Structure South Dakota Codified Laws
Chapter 17B - Standards For Long-Term Care Insurance
Section 58-17B-2 - Definition of terms.
Section 58-17B-3 - Minimum requirements for individual policy.
Section 58-17B-4 - Adoption of rules--Standards for disclosure.
Section 58-17B-5 - Grounds for termination and certain provisions prohibited.
Section 58-17B-5.1 - Replacement of policy--Waiver of time periods.
Section 58-17B-8 - Adoption of rules to establish loss ratio standards.
Section 58-17B-9 - Policyholder's right to return--Notice.
Section 58-17B-10 - Delivery of outline of coverage--Contents.
Section 58-17B-11 - Contents of certificate.
Section 58-17B-12 - Compliance with chapter prerequisite to advertisement, marketing, offer.
Section 58-17B-13 - Endorsement required--Cost-of-living adjustment not required.
Section 58-17B-13.1 - Establishment of standards and requirements for cost-of-living adjustment.