Long-term care insurance applicants shall have the right to return the policy or certificate within thirty days of its delivery and to have the premium refunded if, after examination of the policy or certificate, the applicant is not satisfied for any reason. Long-term care insurance policies and certificates shall have a notice prominently printed on the first page of the policy or certificate or attached thereto stating in substance that the applicant has the right to return the policy or certificate within thirty days of its delivery and to have the premium refunded if, after examination of the policy or certificate other than a certificate issued to a group as defined in subdivision (1) of section 44-4508, the applicant is not satisfied for any reason.

Source

Terms Used In Nebraska Statutes 44-4515

  • Applicant: shall mean (1) in the case of an individual policy, the person who seeks to contract for such benefits and (2) in the case of a group policy, the proposed certificate holder. See Nebraska Statutes 44-4505
  • Certificate: shall mean any certificate issued under a group policy, which policy has been delivered or issued for delivery in this state. See Nebraska Statutes 44-4506
  • Long-term care insurance: shall mean any insurance policy or rider advertised, marketed, offered, or designed to provide coverage for not less than twelve consecutive months for each covered person on an expense-incurred, indemnity, prepaid, or other basis for one or more necessary or medically necessary diagnostic, preventive, therapeutic, rehabilitative, maintenance, or personal care services provided in a setting other than an acute care unit of a hospital. See Nebraska Statutes 44-4509
  • Policy: shall mean any individual or group policy, contract, subscriber agreement, rider, or endorsement delivered or issued for delivery in this state by an insurer, fraternal benefit society, prepaid health plan, health maintenance organization, or any similar organization. See Nebraska Statutes 44-4510
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