Vermont § 8092 Acceleration of life insurance death benefit; monthly report

Vermont Statutes

§ 8092 — Acceleration of life insurance death benefit; monthly report

Vermont·Title 8 Title 8: Banking and Insurance·Ch. 154 Chapter 154: Long-Term Care Insurance

Anytime a long-term care benefit, funded through a life insurance vehicle by the acceleration of the death benefit, is in benefit payment status, a monthly report shall be provided to the policyholder. The report shall include:

(1)any long-term care benefits paid out during the month;

(2)an explanation of any changes in the policy, such as death benefits or cash values, due to long-term care benefits being paid out; and

(3)the amount of long-term care benefits existing or remaining. (Added 2003, No. 124 (Adj. Sess.), § 2, eff. Jan. 1, 2005.)

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Anytime a long-term care benefit, funded through a life insurance vehicle by the acceleration of the death benefit, is in benefit payment status, a monthly report shall be provided to the policyholder. The report shall include:
(1) any long-term care benefits paid out during the month;
(2) an explanation of any changes in the policy, such as death benefits or cash values, due to long-term care benefits being paid out; and
(3) the amount of long-term care benefits existing or remaining. (Added 2003, No. 124 (Adj. Sess.), § 2, eff. Jan. 1, 2005.)

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