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Washington Administrative Code (Last Updated: November 23, 2016) |
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Title 284. Insurance Commissioner, Office of |
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Chapter 284-54. Long-term care insurance rules. |
Section 284-54-350. Form to be used—Long-term care insurance disclosure form.
Latest version.
- No later than January 1, 1996, the disclosure form shall be substantially as follows:The decision to buy a new long-term care policy is very important. It should be carefully considered.The following data give you some general tips and furnish you with a summary of benefits available under our policy.Your long-term care policy provides thirty days (sixty days for direct response insurers) within which you may decide without cost whether you wish to keep it. For your own information and protection, you should be aware of and seriously consider certain factors which may affect the insurance protection available under your policy.If you now have insurance which provides benefits for long-term care, read your policy carefully. Look for what is said about renewing it. See if it contains waiting periods before benefits are paid. Note how it covers preexisting conditions (health conditions you already have). Compare these features with similar ones in any new policy. Use this information to measure the value of any insurance or health care plans you now have.DON'T BUY MORE INSURANCE THAN YOU REALLY NEED. One policy that meets your needs is usually less expensive than several limited policies.If you are eligible for state medical assistance coupons (medicaid), you should not purchase a long-term care insurance policy.After you receive your policy, make sure you have received the coverage you thought you bought. If you are not satisfied with the policy, you may return it within thirty days (sixty days for direct response insurer) for a full refund of premium.WHAT DOES THE POLICY COST?