If a supplemental long-term care benefit funded through a life insurance policy by the acceleration of the death benefit is in benefit payment status, a monthly report must be provided to the policyholder. The report must include:
(1) A record of all supplemental long-term care benefits paid out during the month;
(2) An explanation of any changes in the policy resulting from paying the supplemental long-term care benefits, such as a change in the death benefit or cash values; and
(3) The amount of supplemental long-term care benefits that remain to be paid.
[ 2025 c 380 s 28.]
Notes:
Effective date—2025 c 380 ss 17-39, 47, and 48: See note following RCW 48.212.005.