§ 10237.5. — 10237.5. (Amended by Stats. 1999, Ch. 947, Sec. 18.)

California § 10237.5.

• Jurisdiction: California
• Code INS: Insurance Code - INS
• Div. 2.: DIVISION 2. CLASSES OF INSURANCE
• Part 2.: PART 2. LIFE AND DISABILITY INSURANCE
• Ch. 2.6.: CHAPTER 2.6. Long-Term Care Insurance
• Art. 5.: ARTICLE 5. Inflation Escalator and Benefit Increases

Text

(a)
An inflation protection provision that increases benefit levels annually in a manner so that the increases are compounded annually at a rate not less than 5 percent shall be included in a long-term care insurance policy unless an insurer obtains a rejection of inflation protection signed by the policyholder.
(b)
The rejection, to be included in the application or on a separate form, shall state:
“I have reviewed the outline of coverage and the graphs that compare the
benefits and premiums of this policy with and without inflation protection. Specifically, I have reviewed the plan, and I reject 5 percent annual compound inflation protection.
Signature of Applicant
Date”

Legislative History

Amended by Stats. 1999, Ch. 947, Sec. 18. Effective January 1, 2000.