                                 CODE OF VIRGINIA

DISCLOSURE; LIFE INSURANCE POLICIES (§ 38.2-5207.1)

Whenever an individual life insurance policy which provides long-term care
benefits within the policy or by rider is delivered, it shall be accompanied by
a policy summary. In the case of direct response solicitations, the insurer
shall deliver the policy summary upon the applicant&#8217;s request, but
regardless of request shall make such delivery no later than at the time of
policy delivery. In addition to complying with all applicable requirements, the
summary shall also include:

1. An explanation of how the long-term care benefit interacts with other
components of the policy, including deductions from death benefits;

2. An illustration of the amount of benefits, the length of benefit, and the
guaranteed lifetime benefits, if any, for each covered person; and

3. Any exclusions, reductions, and limitations on benefits of long-term care.
			If applicable to the policy type, the summary shall also include (i) a
disclosure of the effects of exercising other rights under the policy, (ii) a
disclosure of guarantees related to long-term care costs of insurance charges,
and (iii) current and projected maximum lifetime benefits.

HISTORY: 1990, c. 285.