Model state law of the NAIC setting minimum standards with which insurance products must comply if they are to qualify under the definition of a long-term care (LTC) insurance policy. These minimum standards include the following:
Policies must be a GUARANTEED RENEWABLE CONTRACT.
Specific illnesses (health problems) cannot be excluded from coverage.
Summary of the policy in outline form must be provided the insured.
FREE EXAMINATION "FREE LOOK" PERIOD must be included in the policy during which time the POLICYHOLDER may cancel the policy for any reason and receive the return of the premiums paid in.
Essentially the same benefits for custodial care and skilled nursing care must be provided by the policy.
Programs that deal with troublesome personal and family problems such as alcohol and drug abuse, marital problems, workplace violence, compulsive gambling, child care, legal problems, and ...
Reduction in automobile insurance rate for a student with a good academic record. Some statistical studies suggest that good students have fewer automobile accidents. ...
Form of inland marine insurance under which an insured is indemnified for damage or destruction of his or her on-premises property if it is due to radioactive material stored or used within ...
In insurance, legal authority obtained by an insurance company, agent, broker, or consultant that permits them to do business in a particular state. The document issued by the state shows ...
Automatic adjustment applied to Social Security retirement payments when the consumer price index increases at a rate of at least 3%, the first quarter of one year to the first quarter of ...
Termination of a contractual obligation for immediate performance. For example, under the homeowners insurance policy, if the insurer refuses to pay a claim, the insured (if not satisfied ...
Clause in a liability insurance policy under which an insurance company agrees to defend an insured even if a lawsuit is without foundation. The costs of defending the insured are covered, ...
You might think, \"Why do I need insurance, I\'m renting?\" Well, even though your landlord probably has an insurance policy on your building, you\'ll need to protect your personal ...
Your motor home can be both your transportation and your home away from home. So like your auto and your home, you need to safeguard it with the proper insurance protection. Consider the ...
1.- Stay Calm. Determine the injuries and or damage. 2.- Call the police. File an accident report and obtain medical assistance if needed. 3.- Limit Discussion. Talk only with the police or ...
You\'ve identified some financial goals and begun to look at potential investments. You\'re on the path to investment success! Putting some plans into motion is an essential step, but it\'s ...
A life insurance policy can help enable your family to remain financially if you or your spouse should die. Insurance company understands that life is constantly changing, so we have ...
Choosing the auto insurance requires consideration of manyfactors- Take into account everything you own and the reasons to protect them. The year of the vehicle and actual cash value of it ...
Health insurance also known as .disability insurance. is insurance of human beings against bodily injury, disablement, or death by accident or accidental means. ...
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