211 CMR 65.06 - Mandatory Benefit Offers for Individual Policies
(1)
Inflation Adjustment
Benefit.
(a) A carrier shall
make available, at the time of application, an option to increase benefits in
order to adjust for or mitigate against future inflation. The applicant must be
informed regarding the cost of this benefit.
(b) The initial option to purchase an
inflation adjustment benefit must be offered to every applicant without
additional underwriting.
(c) The
carrier must require the applicant to specifically reject this benefit on the
application if he/she chooses not to include this benefit in the individual
policy.
(2)
Nonforfeiture Benefit
.
(a) A carrier shall make available, at the
time of application, an option to purchase a nonforfeiture benefit. The
applicant must be informed regarding the cost of this benefit.
(b) The initial option to purchase a
nonforfeiture benefit must be offered to every applicant without additional
underwriting.
(c) The carrier must
require the applicant to specifically reject this benefit on the application if
he/she chooses not to include this benefit in the individual policy.
(3)
Home Health Care
Benefit.
(a) A carrier shall
make available, at the time of application, at least one policy covering home
health care that satisfies
211 CMR
65.05(2)(c).
(b) A carrier may satisfy this requirement
through the offer of an affiliated or nonaffiliated carrier 's product(s), as
long as the arrangement is subject to a written contract filed with and
approved by the commissioner.
(4)
Long-Term Care Insurance
Benefits Qualifying the Insured for Exemptions from Certain Massachusetts Mass
Health (Medicaid) Provisions.
(a) A carrier shall make available, at the
time of application at least one policy that satisfies the requirements of
130
CMR 515.014.
(b) A carrier may satisfy this requirement
through the offer of an affiliated or nonaffiliated carrier 's product(s), as
long as the arrangement is subject to a written contract filed with and
approved by the commissioner.
Notes
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