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Rule 20:06:21:22 Lapse or termination for nonpayment of premium.

          20:06:21:22.  Lapse or termination for nonpayment of premium. An individual long-term care policy or certificate may not lapse or be terminated for nonpayment of premium unless the insurer, at least 30 days before the effective date of the lapse or termination, has given notice to the insured and to those persons designated pursuant to ยง 20:06:21:20 at the address provided by the insured for purposes of receiving notice of lapse or termination. Notice shall be given by first class United States mail, postage prepaid. Notice may not be given until 30 days after a premium is due and unpaid. Notice is considered given five days after the date of mailing.

          Source: 22 SDR 97, effective December 18, 1995.

          General Authority: SDCL 58-17B-4.

          Law Implemented: SDCL 58-17B-5.

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