20:06:21:74.  Producer training required to market long-term care plans. An individual may not sell, solicit, or negotiate long-term care insurance unless the individual:

    (1)  Is licensed as a health or life producer;

    (2)  Has completed a one-time, eight-hour training course prior to selling, soliciting, or negotiating long-term care insurance; and

    (3)  Completes four hours of ongoing training within every twenty-four-month license renewal period.

    Source: 33 SDR 230, effective July 2, 2007; 51 SDR 66, effective January 1, 2025.

    General Authority: SDCL 58-30-117.

    Law Implemented: SDCL 58-30-117, 58-30-118.

    20:06:21:74.01. Long-term care plan training topics for producers. The training required under § 20:06:21:74 must consist of the following topics related to long-term care insurance and services, and, if applicable, qualified state long-term care insurance partnership programs:

    (1)  State and federal requirements and the relationship between qualified state long-term care insurance partnership programs and other public and private coverage of long-term care services, including medicaid;

    (2)  Available long-term care services and providers;

    (3)  Changes or improvements in long-term care services or providers;

    (4)  Alternatives to the purchase of private long-term care insurance;

    (5)  The effect of inflation on benefits and the importance of inflation protection; and

    (6)  Consumer suitability standards and guidelines.

    The training required in this section may not include subject matter that is prohibited by § 20:06:18:07. A course meeting the training requirements of § 20:06:21:74 and this section may be approved as a continuing education course pursuant to § 20:06:18:06.

    Source: 51 SDR 66, effective January 1, 2025.

    General Authority: SDCL 58-30-117.

    Law Implemented: SDCL 58-30-117, 58-30-118.