The director shall adopt regulations regarding
(1) the sale of long-term care insurance that provide minimum standards for
(A) terms of renewability;
(B) initial and subsequent conditions of eligibility;
(C) nonduplication of coverage provisions;
(D) coverage of dependents;
(F) preexisting conditions and recurrent conditions;
(G) termination of insurance, including incontestability periods;
(H) continuation or conversion;
(I) probationary periods, limitations, exceptions, reductions, and elimination periods;
(J) requirements for replacement;
(K) producer training, education, compensation, and testing;
(M) independent review of benefit determinations;
(N) penalties and reporting practices; and
(O) premium rates, including rate filing requirements;
(2) standard definitions of long-term care insurance terms;
(3) nonforfeiture or minimum value requirements;
(4) consumer protection standards, including standards for full and fair disclosure setting out the manner and content of required disclosures; and
