Long-Term Care Insurance Act

The act governs the formation, content, and enforcement of insurance contracts, establishing who may take out a policy and on whose life or property an insurable interest exists, how applications and the representations in them are treated, and what provisions a policy must contain to be valid. It requires policy forms to be filed and approved before use, sets grounds for disapproval, and fixes rules for binders, execution, delivery, renewal, assignment, dividends, and the proof and payment of claims, including the effect of noncompliant forms. It also exempts the proceeds of life, health, group, and annuity coverage from certain claims, and supplies rules of construction along with the court jurisdiction and limitation periods that apply to suits on a policy. One thing worth flagging: nothing in these section titles is specific to long-term care insurance — they read as a general insurance-contracts subtitle (insurable interest, form filing, standard provisions, exemption of proceeds). If the overview above is meant to render on pages titled "Long-term Care Insurance Act," either the section set is mismapped or the act name is attached to the wrong body of text.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.