§8092. Acceleration of life insurance death benefit; monthly report

Link to law: http://legislature.vermont.gov/statutes/section/08/154/08092
Published: 2015

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The Vermont Statutes Online



Title

08

:
Banking and Insurance






Chapter

154

:
LONG-TERM CARE INSURANCE











 

§

8092. Acceleration of life insurance death benefit; monthly report

Anytime a

long-term care benefit, funded through a life insurance vehicle by the

acceleration of the death benefit, is in benefit payment status, a monthly

report shall be provided to the policyholder. The report shall include:

(1) any

long-term care benefits paid out during the month;

(2) an

explanation of any changes in the policy, such as death benefits or cash

values, due to long-term care benefits being paid out; and

(3) the amount

of long-term care benefits existing or remaining. (Added 2003, No. 124 (Adj.

Sess.), § 2, eff. Jan. 1, 2005.)
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