Minnesota § 62S.14 RENEWABILITY

Minnesota Statutes

§ 62S.14 — RENEWABILITY

Minnesota § 62S.14

PartINSURANCE

Ch. 62SQUALIFIED LONG-TERM CARE INSURANCE POLICIES

This text of Minnesota § 62S.14 (RENEWABILITY) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 62S.14 (2026).

Text

Subdivision 1.Guaranteed renewable.
A qualified long-term care insurance policy must be guaranteed renewable.

Subd. 2.Terms.
The terms "guaranteed renewable" and "noncancelable" may not be used in an individual long-term care insurance policy without further explanatory language that complies with the disclosure requirements of section62S.20. The term "level premium" may only be used when the insurer does not have the right to change the premium.

Subd. 3.Authorized renewal provisions.
A policy issued to an individual may not contain renewal provisions other than guaranteed renewable or noncancelable.

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Subdivision 1.Guaranteed renewable.
A qualified long-term care insurance policy must be guaranteed renewable.

Subd. 2.Terms.
The terms "guaranteed renewable" and "noncancelable" may not be used in an individual long-term care insurance policy without further explanatory language that complies with the disclosure requirements of section62S.20. The term "level premium" may only be used when the insurer does not have the right to change the premium.

Subd. 3.Authorized renewal provisions.
A policy issued to an individual may not contain renewal provisions other than guaranteed renewable or noncancelable.