62S.14 Renewability.
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 section 62S.20.
Subd. 3. Authorized renewal provisions. A policy issued to an individual may not contain renewal provisions other than guaranteed renewable or noncancelable.
HIST: 1997 c 71 art 1 s 14
Official Publication of the State of Minnesota
Revisor of Statutes