2007 Minnesota Statutes

60K.365 PRODUCER TRAINING REQUIREMENTS FOR LONG-TERM CARE
INSURANCE PRODUCTS.
    (a) An individual may not sell, solicit, or negotiate long-term care insurance unless the
individual is licensed as an insurance producer for accident and health or sickness insurance or
life insurance and has completed an initial training course and ongoing training every 24 months
thereafter. The training must meet the requirements of paragraph (b).
    (b) The initial training course required by this section must be no less than eight hours, and
the ongoing training courses required by this section must be no less than four hours every 24
months. The courses must be approved by the commissioner and may be approved as continuing
education courses under section 60K.56. The courses must consist of topics related to long-term
care insurance, long-term care services, and qualified state long-term care insurance partnership
programs, including, but not limited to:
    (1) state and federal regulations and requirements and the relationship between qualified
state long-term care insurance partnership programs and other public and private coverage of
long-term care services, including Medicaid/Minnesota medical assistance;
    (2) available long-term care services and providers;
    (3) changes or improvements in long-term care services or providers;
    (4) alternatives to the purchase of private long-term care insurance;
    (5) the effect of inflation on benefits and the importance of inflation protection; and
    (6) consumer suitability standards and guidelines.
    The training required by this section must not include training that is insurer or company
product specific or that includes any sales or marketing information, materials, or training, other
than those required by state or federal law.
    (c) Insurers shall obtain verification that a producer has received the training required by this
section before a producer is permitted to sell, solicit, or negotiate the insurer's long-term care
insurance products. Insurers shall maintain records verifying that the producer has received
the training contained in this section and make that verification available to the commissioner
upon request.
    (d) The satisfaction of these initial training requirements in any state shall be deemed to
satisfy the initial training requirements of this section.
    (e) Nonresident producers selling partnership policies shall be expected to demonstrate
knowledge about unique aspects of the Minnesota medical assistance system. An insurer offering
partnership products in Minnesota shall maintain records verifying that its nonresident producers
have attained the required training and make that verification available to the commissioner
upon request.
History: 2007 c 57 art 3 s 32