Minnesota Statutes Chapter 62S, Secs. 62S.01 onward: Long-Term Care Insurance

What this document is

Minnesota Statutes Chapter 62S - Long-Term Care Insurance (Secs. 62S.01 onward) is a state statute published by Minnesota Office of the Revisor of Statutes (revisor.mn.gov). It is one of the Minnesota documents that insurance license exam questions are written from, including minnesota life & health practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• Minn. Stat. Chapter 62S § 62S.15 (Authorized Limitations and Exclusions)

  “(a) No policy may be delivered or issued for delivery in this state as long-term care insurance if the policy limits or excludes coverage by type of illness, treatment, medical condition, or accident, except as follows: (1) preexisting conditions or diseases; (2) mental or nervous disorders; except...”

• Minn. Stat. Chapter 62S § 62S.07, subd. 1 (Right to Return; Refund)

  “Long-term care insurance policies and certificates must include a notice prominently printed on the first page or attached to the first page stating in substance that the applicant may return the policy or certificate within 30 days of its delivery and have the premium refunded if for any reason,...”

• Minn. Stat. Chapter 62S § 62S.01, subd. 16 (Guaranteed Renewable)

  “"Guaranteed renewable" means the insured has the right to continue the long-term care insurance in force by the timely payment of premiums and the insurer has no unilateral right to make any change in any provision of the policy or rider while the insurance is in force and cannot decline to renew,...”

• Minn. Stat. Chapter 62S § 62S.13, subd. 3 (Incontestability Period; Contested Policy)

  “After a policy or certificate has been in force for two years, it is not contestable upon the grounds of misrepresentation alone. The policy or certificate may be contested only upon a showing that the insured knowingly and intentionally misrepresented relevant facts relating to the insured's health.”

• Minn. Stat. Chapter 62S § 62S.266, subd. 2 (Nonforfeiture Benefit Requirement)

  “(2) the offer must be in writing if the nonforfeiture benefit is not otherwise described in the outline of coverage or other materials given to the prospective policyholder.”

• Minn. Stat. Chapter 62S § 62S.08, subd. 1 (Coverage Outline; Delivery)

  “In the case of agent solicitations, an agent must deliver the outline of coverage before the presentation of an application or enrollment form. In the case of direct response solicitations, the outline of coverage must be presented in conjunction with an application or enrollment form.”

• Minn. Stat. Chapter 62S § 62S.20, subd. 4 (Required Disclosure Provisions; Limitations)

  “If a long-term care insurance policy or certificate contains any limitations with respect to preexisting conditions, the limitations must appear as a separate paragraph of the policy or certificate and must be labeled as "preexisting condition limitations."”

• Minn. Stat. Chapter 62S § 62S.04 (Prohibitions)

  “A long-term care insurance policy may not: (1) be canceled, nonrenewed, or otherwise terminated on the grounds of the age or the deterioration of the mental or physical health of the insured individual or certificate holder;”

• Minn. Stat. Chapter 62S § 62S.30, subd. 2 (Suitability)

  “(c) A completed personal worksheet shall be returned to the insurer or other entity marketing long-term care insurance prior to consideration of the applicant for coverage, except the personal worksheet need not be returned for sales of employer group long-term care insurance to employees and their...”

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