Title XXV, Business and Financial Institutions

(1) Binders or other contracts for temporary insurance may be made orally or in writing, and shall be deemed to include all the usual terms of the policy as to which the binder was given together with such applicable endorsements as are designated in the binder, except as superse…

(1) Subject to the insurer's requirements as to payment of premium, every policy shall be mailed or otherwise delivered to the insured or to the person entitled thereto within a reasonable period of time after its issuance, except where a condition required by the insurer has not…

Any insurance policy terminating by its terms at a specified expiration date and not otherwise renewable, may be renewed or extended at the option of the insurer, upon a currently authorized policy form and at the premium rate then required therefor, for a specific additional per…

Except as provided in KRS 304.17A-265, 304.17C-137, and 304.20-105: (1) A policy may be assignable or not assignable, as provided by its terms; (2) Subject to its terms relating to assignability, a life or health insurance policy, regardless of when it was issued, under the terms…

Whenever the proceeds of or payments under a life or health insurance policy or annuity contract heretofore or hereafter issued become payable in accordance with the terms of such policy or contract, or the exercise of any right or privilege thereunder, and the insurer makes paym…

An insurer shall furnish upon written request of any person claiming to have a loss under any insurance contract, forms of proof of loss for completion by such person, but such insurer shall not, by reason of the requirement so to furnish forms, have any responsibility or liabili…

Without limitation of any right or defense of an insurer otherwise, none of the following acts by or on behalf of an insurer shall be deemed to constitute a waiver of any provision of a policy or of any defense of the insurer thereunder: (1) Acknowledgment of the receipt of notic…

(1) Every insurer issuing participating policies, shall pay dividends, unused premium refunds or savings distributed on account of any such policy, only to the real party in interest entitled thereto as shown by the insurer's records, or to any person to whom the right thereto ha…

(1) If a policy of insurance whether heretofore or hereafter issued, is effected by any person on his own life, or on another life, in favor of a person other than himself, or, except in cases of transfer with intent to defraud creditors, if a policy of life insurance is assigned…

Except as may otherwise be expressly provided by the policy or contract, the proceeds or avails of all contracts of health insurance and of provisions providing benefits on account of the insured's disability which are supplemental to life insurance or annuity contracts heretofor…

(1) A policy of group life insurance or group health insurance or the proceeds thereof payable to the individual insured or to the beneficiary thereunder, shall not be liable, either before or after payment, to be applied by any legal or equitable process to pay any debt or liabi…

(1) The benefits, rights, privileges and options which under any annuity contract heretofore or hereafter issued are due or prospectively due the annuitant, shall not be subject to execution nor shall the annuitant be compelled to exercise any such rights, powers, or options, nor…

(1) Every life insurance policy made payable to or for the benefit of or duly assigned or transferred to a married woman, or to any person in trust for her, shall inure to her separate use and benefit and that of her children, independently of her husband or his creditors or any …

(1) Any life insurer shall have power to hold the proceeds of any life or endowment insurance or annuity contract issued by it: (a) Upon such terms and restrictions as to revocation by the insured and control by beneficiaries, (b) With such exemptions from legal process and the c…

Every insurance contract shall be construed according to the entirety of its terms and conditions as set forth in the policy, and as amplified, extended, or modified by any rider, indorsement, or application attached to and made a part of the policy.

No conditions, stipulations or agreements in a contract of insurance shall deprive the courts of this state of jurisdiction of actions against foreign insurers, or limit the time for commencing actions against such insurers to a period of less than one (1) year from the time when…

overpayment. An action or request for reimbursement for any overpayment of a health insurance claim pursuant to any health insurance contract shall be brought not more than two (2) years from the date the claim was filed. No insurer, assignee of the insurer, or other person, whet…

Suit upon causes of action arising within this state against an insurer upon an insurance contract shall be brought in the county where the cause of action arose or in the county where the policyholder instituting such action resides.

Any resident of this state who is the person named as the insured in any policy of fire insurance issued or delivered in this state on property located in this state and who sustained a loss of or to such property, which loss is covered under such policy, for which he becomes ent…

prohibited. No insurer shall use an itemized statement furnished pursuant to KRS 216B.250 for insurance payment purposes where benefits have been assigned.

(1) No insurance policy for homeowners, dwelling fire, automobile, accident and health, life or other forms of personal insurance shall be delivered, issued for delivery, amended or renewed in this state after the effective date set out in subsection (2) of this section unless th…

(1) All insurance policies subject to the provisions of KRS 304.14-420 to 304.14-450 shall contain as the first page or first page of text, if it is preceded by a title page or pages, a cover sheet or sheets as provided in this section. The cover sheet or sheets shall be printed …

information -- Requirements for non-English version -- Use and effect of translations. (1) All policy forms filed with the department, and any other insurance policy or claim- related information, shall be written in the English language. (2) An insurer may provide applicants and…

(1) All insurance policies subject to the provisions of KRS 304.14-420 to 304.14-450 shall be written in language easily readable and understandable by a person of average intelligence and education. (2) In determining whether a policy or contract is readable within the meaning o…

approved by commissioner. (1) All insurance policies subject to the provisions of KRS 304.14-420 to 304.14-450 shall be printed in legible type and in a type face style approved by the commissioner. The commissioner shall by regulation establish a list of type face styles approve…

For the purpose of KRS 304.14-510 to 304.14-550: (1) "Applicant" means: (a) In the case of an individual Medicare supplement policy or subscriber contract, the person who seeks to contract for insurance benefits; and (b) In the case of a group Medicare supplement policy or subscr…

The commissioner may make reasonable rules and regulations establishing minimum standards for Medicare supplement insurance policies delivered or issued for delivery in the state. Such regulations may cover but are not limited to: (1) Establishing specific standards for policy pr…

Notwithstanding any other provision of state law except KRS 304.14-525(3)(b)3., a Medicare supplement policy shall not: (1) Deny a claim for losses incurred more than six (6) months from the effective date of coverage for a pre-existing condition; or (2) Define a pre-existing con…

Medicare supplement policies for applicants who meet requirements relating to age, health conditions, and enrollment. (1) As used in this section: (a) "Non-age eligible person": 1. Means a person who is: a. Under the age of sixty-five (65); and b. Eligible for Medicare by reason …

Medicare supplement policies shall be expected to return to policyholders benefits which are reasonable in relation to the premium charged. The commissioner shall issue reasonable regulations to establish minimum standards for loss ratios of Medicare supplement policies on the ba…

In order to provide for full and fair disclosure in the sale of Medicare supplement policies, no Medicare supplement policy shall be delivered or issued for delivery in this state and no certificate shall be delivered pursuant to a group Medicare supplement policy delivered or is…

If an individually marketed Medicare supplement insurance policy is canceled, the insurer shall return promptly the unearned portion of any premium paid beyond the month in which the cancellation is effective.

Medicare supplement policies or certificates shall have a notice prominently printed on the first page of the policy or attached thereto stating in substance that the applicant shall have the right to return the policy or certificate within thirty (30) days of its delivery and to…

Distribution -- Payment. (1) The commissioner of insurance shall biennially compile a consumer's guide to long- term care insurance in Kentucky. The consumer's guide shall cover all insurers offering health insurance policies in Kentucky, including health maintenance organization…

As used in KRS 304.14-600 to 304.14-625, unless the context requires otherwise: (1) "Incidental" indicates that the value of the long-term care benefits provided in a policy is less than ten percent (10%) of the total value of the benefits provided over the life of the policy. Po…

(1) The purpose of KRS 304.14-600 to 304.14-625 is to promote the public interest, to promote the availability of long-term care insurance policies, to protect applicants for long-term care insurance from unfair or deceptive sales or enrollment practices, to establish standards f…

Group long-term care insurance coverage shall not be offered to a resident of Kentucky under a group policy issued in another state to a group described in KRS 304.14- 600(5)(d) unless the commissioner or the insurance supervisory official of another state having statutory and re…

-- Right to return policy. (1) The commissioner shall promulgate administrative regulations that include standards for full and fair disclosure setting forth the manner, content, and require disclosures for the sale of long-term care insurance policies, terms of renewability, ini…

and for adult day care services. (1) Any long-term care policy, issued on or after June 21, 2001, which provides coverage for assisted living benefits shall cover services received in any assisted living community that: (a) Meets the requirements of KRS 194A.700 to 194A.729 and a…

The commissioner shall issue administrative regulations to establish minimum standards for marketing practices, agent compensation, agent testing, penalties, and reporting practices for long-term care insurance.

premium. If an individually marketed individual long-term care insurance policy is canceled, the insurer shall return promptly the unearned portion of any premium paid beyond the month in which the cancellation is effective.

KRS 304.14-600 to 304.14-625 may be cited as the Long-term Care Insurance Act.

care benefits. The commissioner shall issue administrative regulations to establish standards for premium rate practices and rate increases for long-term care benefits.

benefits. The commissioner shall promulgate administrative regulations to establish standards for incidental long-term care benefits.

As used in KRS 205.619 and 304.14-640 to 304.14-644, unless the context requires otherwise: (1) "Asset disregard" means a one dollar ($1) increase in the amount of assets the policyholder may own and retain for each one dollar ($1) of benefit paid under a long-term care partnersh…

component requirements -- Administrative regulations. (1) The Kentucky Long-Term Care Partnership Insurance Program is established as a partnership between the Department for Medicaid Services and the Department of Insurance to: (a) Provide incentives for an individual to insure …