20:06:21:48.  Monthly report to policyholder. If a long-term care benefit funded through a life insurance vehicle by the acceleration of the death benefit is in benefit payment status, the insurer must provide a monthly report to the policyholder. The report must include:

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

          (2)  An explanation of any changes in the policy, e.g., death benefits or cash values, caused by long-term care benefits being paid out; and

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

          Source: 23 SDR 55, effective October 20, 1996.

          General Authority: SDCL 58-17B-4.

          Law Implemented: SDCL 58-17B-4.