                                 CODE OF VIRGINIA

PROMULGATION OF REGULATIONS; STANDARDS FOR POLICY PROVISIONS (§ 38.2-5202)

A. The Commission may adopt regulations to establish specific standards for
policy provisions of long-term care insurance policies. These standards shall be
in addition to and in accordance with applicable laws of this Commonwealth. The
standards shall address terms of renewability, nonforfeiture provisions if
applicable, initial and subsequent conditions of eligibility, continuation or
conversion, nonduplication of coverage provisions, coverage of dependents,
preexisting conditions, termination of insurance, probationary periods,
limitations, exceptions, reductions, elimination periods, requirements for
replacement, recurrent conditions, definitions of terms, and disclosure of
rating practices to consumers and may address any other standards considered
appropriate by the Commission.

B. The Commission shall promulgate such regulations regarding long-term care
insurance policies and certificates as it deems appropriate.

C. Regulations issued by the Commission shall:

   1. Recognize the unique, developing and experimental nature of long-term care
   insurance;

   2. Recognize the appropriate distinctions necessary between group and
   individual long-term care insurance policies;

   3. Recognize the unique needs of both those individuals who have reached
   retirement age and those preretirement individuals interested in purchasing
   long-term care insurance products; and

   4. Recognize the appropriate distinctions necessary between long-term care
   insurance and accident and sickness insurance policies, prepaid health plans,
   and other health service plans.

HISTORY: 1987, c. 586; 1990, c. 285; 2000, c. 559; 2001, c. 114.