Idaho State Statutes - Idaho Attorney Directory

(1) Except as provided in subsection (2)
of this section, a long-term care insurance policy may not be delivered or
issued for delivery in this state unless the policyholder or certificate
holder has been offered the option of purchasing a policy or certificate
including a nonforfeiture benefit. The offer of a nonforfeiture benefit may be
in the form of a rider that is attached to the policy. In the event the
policyholder or certificate holder declines the nonforfeiture benefit, the
insurer shall provide a contingent benefit upon lapse that shall be available
for a specified period of time following a substantial increase in premium
rates.
(2) When a group long-term care insurance policy is issued, the offer
required in subsection (1) of this section shall be made to the group
policyholder. However, if the policy is issued as group long-term care
insurance as defined in section 41-4603(4)(d), Idaho Code, other than to a
continuing care retirement community or other similar entity, the offering
shall be made to each proposed certificate holder.
(3) The director shall promulgate rules specifying the type or types of
nonforfeiture benefits to be offered as part of long-term care insurance
policies and certificates, the standards for nonforfeiture benefits, and the
rules regarding a contingent benefit upon lapse, including a determination of
the specified period of time during which a contingent benefit upon lapse will
be available and the substantial premium rate increase that triggers a
contingent benefit upon lapse as described in subsection (1) of this section.

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