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

California Statutes

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

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

(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”

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(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”

California § 10237.5. (10237.5. (Amended by Stats. 1999, Ch. 947, Sec. 18.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.