California Insurance Code

§ 10235.30

INS § 10235.30 Effective Jan 1, 2000Div. 2 · Part 2 · Ch. 2.6 · Art. 4

Statute text

(a)No insurer may deliver or issue for delivery a long-term care policy in this state unless the insurer offers at the time of application an option to purchase a shortened benefit period nonforfeiture benefit with the following features:

(1)Eligibility begins no later than after 10 years of premium payments.

(2)The lifetime maximum benefit is no less than the dollar equivalent of three months of care at the nursing facility per diem benefit contained in the policy or the amount of the premiums paid, whichever is greater.

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Legislative history

Amended by Stats. 1999, Ch. 947, Sec. 11. Effective January 1, 2000.