LegalFix
Sign In

33-20-128. Life insurance policy paying long-term benefits -- monthly report

MT Code § 33-20-128 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

33-20-128. Life insurance policy paying long-term benefits -- monthly report. When a long-term care benefit, funded through a life insurance vehicle by the acceleration of the death benefit, is in benefit payment status, a monthly report must be provided to the policyholder as provided for in 33-22-1123 and this section. The report must include the following information for the month for which the report is issued:

(1) the amount of long-term care benefits paid out during the month;

(2) an explanation of any changes in the policy, including without limitation death benefits or cash values, resulting from long-term care benefits having been paid out; and

(3) the amount of long-term care benefits existing or remaining.

History: En. Sec. 4, Ch. 152, L. 1991; amd. Sec. 2, Ch. 416, L. 1997; amd. Sec. 2, Ch. 32, L. 2007.

Previous Section
33-20-127. Life insurance policy with long-term care provision or accelerated benefits provision -- summary required
Next Section
33-20-129. and 33-20-130 reserved