California Insurance Code

§ 10295.11

INS § 10295.11 Effective Jan 1, 2026Div. 2 · Part 2 · Ch. 4 · Art. 2.1

Statute text

(a)An accelerated death benefit shall not be advertised or marketed as long-term care insurance, nursing home insurance, or home care insurance. Any advertisement, description, comparison, marketing material, or illustration shall state in bold type: “This is a life insurance benefit that also gives you the option to accelerate some or all of the death benefit in the event that you meet the criteria for a qualifying event described in the policy. This policy or certificate does not provide long-term care insurance subject to California long-term care insurance law. This policy or certificate is not a California Partnership for Long-Term Care program policy. This policy or certificate is not a Medicare supplement (policy or certificate).” An insurer shall also include in any advertisement or marketing materials for these insurance policies all of the following:

(1)A statement that the policy or certificate pays proceeds that are or are not intended to receive favorable tax treatment under Section 101(g) of the Internal Revenue Code (26 U.S.C. Sec. 101(g)).

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Legislative history

Amended by Stats. 2025, Ch. 558, Sec. 21. (AB 487) Effective January 1, 2026.