(1) (a) A long-term care insurance policy or certificate may not be delivered or issued for delivery in this state unless the policyholder or certificate holder has been offered the option of purchasing a policy or certificate including a nonforfeiture benefit. (b) The offer of a nonforfeiture benefit under Subsection (1)(a) may be in the form of a rider that is attached to the policy. (c) If the policyholder or certificate holder declines the nonforfeiture benefit offered under this Subsection (1), the insurer shall provide a contingent benefit upon lapse of the policy or certificate that is available for a specified period of time following a substantial increase in premium rates. (d) (i) Except as provided in Subsection (1)(d)(ii), if a group long-term care insurance policy is issued, the offer required in this Subsection (1) shall be made to the group policyholder. (ii) If the policy is issued to a group authorized under Section 31A-22-509, the offer required under this Subsection (1) shall be made to each proposed certificate holder.

(a) A long-term care insurance policy or certificate may not be delivered or issued for delivery in this state unless the policyholder or certificate holder has been offered the option of purchasing a policy or certificate including a nonforfeiture benefit.

(b) The offer of a nonforfeiture benefit under Subsection (1)(a) may be in the form of a rider that is attached to the policy.

(c) If the policyholder or certificate holder declines the nonforfeiture benefit offered under this Subsection (1), the insurer shall provide a contingent benefit upon lapse of the policy or certificate that is available for a specified period of time following a substantial increase in premium rates.

(d) (i) Except as provided in Subsection (1)(d)(ii), if a group long-term care insurance policy is issued, the offer required in this Subsection (1) shall be made to the group policyholder. (ii) If the policy is issued to a group authorized under Section 31A-22-509, the offer required under this Subsection (1) shall be made to each proposed certificate holder.

(i) Except as provided in Subsection (1)(d)(ii), if a group long-term care insurance policy is issued, the offer required in this Subsection (1) shall be made to the group policyholder.

(ii) If the policy is issued to a group authorized under Section 31A-22-509, the offer required under this Subsection (1) shall be made to each proposed certificate holder.

(2) The commissioner shall make rules: (a) specifying the types of nonforfeiture benefits to be offered as part of a long-term care insurance policy or certificate; (b) specifying the standards for nonforfeiture benefits; and (c) regarding contingent benefits upon lapse, including a determination of: (i) the specified period of time during which a contingent benefit upon lapse will be available as provided in Subsection (1); and (ii) the substantial premium rate increase that triggers a contingent benefit upon lapse as provided in Subsection (1).

(a) specifying the types of nonforfeiture benefits to be offered as part of a long-term care insurance policy or certificate;

(b) specifying the standards for nonforfeiture benefits; and

(c) regarding contingent benefits upon lapse, including a determination of: (i) the specified period of time during which a contingent benefit upon lapse will be available as provided in Subsection (1); and (ii) the substantial premium rate increase that triggers a contingent benefit upon lapse as provided in Subsection (1).

(i) the specified period of time during which a contingent benefit upon lapse will be available as provided in Subsection (1); and

(ii) the substantial premium rate increase that triggers a contingent benefit upon lapse as provided in Subsection (1).