62S.11 MONTHLY REPORT. Subdivision 1. Required report. Any time a long-term care benefit, funded through a life insurance vehicle by the acceleration of the death benefit, is in benefit payment status, a monthly report must be provided to the policyholder. Subd. 2. Contents. The report must include the following information: (1) long-term care benefits paid out during the month; (2) an explanation of changes in the policy, such as death benefits or cash values, due to long-term care benefits being paid out; and (3) the amount of long-term care benefits existing or remaining. History: 1997 c 71 art 1 s 11
Minnesota Legal Code