Nevada Administrative Code
Chapter 687B - Contracts of Insurance
CONTRACTS FOR LONG-TERM CARE
Section 687B.056 - Standards of suitability: Development; use

1. The provisions of this section do not apply to a policy of life insurance or a rider or endorsement to a policy of life insurance that contains accelerated benefits for long-term care.

2. Every insurer or other organization that markets or offers long-term care insurance contracts or certificates in this State shall:

3. An insurer shall use the standards of suitability developed pursuant to subsection 2 in determining whether it is appropriate to issue long-term care insurance to an applicant.

4. An agent shall use the standards of suitability developed by the insurer pursuant to subsection 2 in marketing long-term care insurance.

5. To determine whether an applicant meets the standards of suitability developed pursuant to subsection 2 for the purchase or replacement of long-term care insurance, the insurer and its agents shall develop policies and procedures that take into consideration:

6. The insurer and its agents shall make reasonable efforts to obtain the information required pursuant to subsection 5, including, without limitation, presenting to the applicant at or before the time of application the worksheet described in subsection 9. The insurer may request that the applicant provide additional information to comply with the standards of suitability.

7. An insurer shall not consider an application unless the applicant completes the worksheet described in subsection 9 and returns the completed worksheet to the insurer, except that the insurer may consider an application without receiving a completed worksheet if the applicant is offered the coverage through a sale of group long-term care insurance to employees and their spouses.

8. An insurer and its agents shall not sell or disseminate outside the company any information obtained from a worksheet described in subsection 9.

9. An insurer shall provide to each applicant form NDOI-949, which is available from the Division, or a "Long-Term Care Insurance Personal Worksheet" which must contain a statement, set out conspicuously and in not less than 12-point type, that is substantially in the format of form NDOI-949.

10. An insurer shall file with the Commissioner a copy of the worksheet described in subsection 9.