Sec.38a-458-2. Type of product

Latest version.

The risks insured under long-term care benefits riders, life insurance policies and annuity contracts with long-term care benefits provisions shall be considered primarily mortality risks rather than morbidity risks; therefore, such riders and policies are considered to provide life insurance benefits. In the absence of a contractual provision within the policy that payment of long-term care benefits will cease upon the termination of the policy, the long-term care benefits shall continue to be paid.

(Effective April 27, 1992; Amended April 23, 2015)

                    
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