CHAPTER 351
FORMERLY
SENATE BILL NO. 195
AS AMENDED BY SENATE AMENDMENT NO. 2
AN ACT TO AMEND TITLE 18 OF THE DELAWARE INSURANCE CODE RELATING TO LONG-TERM CARE INSURANCE.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:
Section 1. Amend Chapter 71, Title 18 of the Delaware Code by redesignating the existing §§7106, 7107, and 7108 as §§7107, 7108 and 7109, respectively, and by adding thereto a new section to read as follows:
"7106. Nonforfeiture benefit requirement.
(a) No insurer may issue or deliver a long-term care insurance policy in this state unless the insurer offers to the applicant the option to purchase a policy that provides for nonforfeiture benefits.
(b) The Insurance Commissioner shall promulgate rules and regulations which specify the types of nonforfeiture benefits to be included in the policies and certificates, the standards for the benefits, and the date nonforfeiture benefits must commence."
Section 2. This Act shall become effective six months after its enactment into law.
Approved June 5, 1996