Michigan Laws 500.3937 – Shopper’s guide; format; providing to applicants; exception
Current as of: 2023 | Check for updates
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(1) A long-term care insurance shopper’s guide in the format developed by the national association of insurance commissioners, or a guide developed or approved by the commissioner, shall be provided to all prospective applicants of a long-term care insurance policy in the following manner:
(a) For agent solicitations, an agent shall deliver the shopper’s guide prior to the presentation of an application or enrollment form.
Terms Used In Michigan Laws 500.3937
- Commissioner: means the director. See Michigan Laws 500.102
- Long-term care insurance: means an individual or group insurance policy, certificate, or rider advertised, marketed, offered, or designed to provide coverage for at least 12 consecutive months for each covered person on an expense-incurred, indemnity, prepaid, or other basis for 1 or more necessary or medically necessary diagnostic, preventive, therapeutic, rehabilitative, maintenance, personal, or custodial care services provided in a setting, including an assisted living facility operating legally in this state, but not including an acute care unit of a hospital. See Michigan Laws 500.3901
- Policy: means an insurance policy or certificate, rider, or endorsement delivered or issued for delivery in this state by an insurer or subsidiary of a nonprofit health care corporation. See Michigan Laws 500.3901
(b) For direct response solicitations, the shopper’s guide shall be presented in conjunction with any application or enrollment form.
(2) Life insurance policies or riders containing long-term care benefits are not required to furnish a shopper’s guide pursuant to subsection (1), but shall furnish a summary of coverage as provided in section 3951.