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2006 Minnesota Statutes
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Chapter 62S
Section 62S.14
Topics
Recent History
- 2006 Subd. 2 Amended 2006 c 282 art 17 s 7
- 2006 Subd. 2 Amended 2006 c 255 s 1
- 1997 62S.14 New 1997 c 71 art 1 s 14
This is an historical version of this statute chapter. Also view the most recent published version.
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. 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.
History: 1997 c 71 art 1 s 14; 2006 c 255 s 41; 2006 c 282 art 17 s 7
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. 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.
History: 1997 c 71 art 1 s 14; 2006 c 255 s 41; 2006 c 282 art 17 s 7
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Revisor of Statutes