Endorsement required--Cost - of - living adjustment not required

Any long - term care policy offered for sale in this state shall offer as an endorsement an annual cost - of - living adjustment in daily benefits paid. Nothing in this section requires an insurer that offers a long - term care policy which pays benefits on an expense - incurred basis or which is a life insurance policy with long - term care benefits as a part of the life policy or a rider to the life policy to offer a cost - of - living adjustment. Source: SL 1989, ch 440 , § 14; SL 1990, ch 398 , § 3.