<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><title></title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s6d274d38-436c-41fe-b854-540626c05667Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont-000000 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s6d274d38-436c-41fe-b854-540626c05667000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont-000002 { color: #0000FF; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s6d274d38-436c-41fe-b854-540626c05667Normal"><span xml:space="preserve" class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont">    </span><span class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont-000000">20:06:21:47.  Policy summary for individual life insurance policy containing long-term care benefits.</span><span xml:space="preserve" class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont"> At the time an insurer delivers an individual life insurance policy which provides long-term care benefits within the policy or by rider, the insurer must deliver a policy summary. If the policy is the result of direct response solicitation, the insurer must deliver the policy summary upon the applicant's request, but no later than the time of policy delivery. The summary must also include:</span></p><p dir="ltr" class="s6d274d38-436c-41fe-b854-540626c05667Normal"><span xml:space="preserve" class="s6d274d38-436c-41fe-b854-540626c05667000001"> </span></p><p dir="ltr" class="s6d274d38-436c-41fe-b854-540626c05667Normal"><span xml:space="preserve" class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont">    (1)  An explanation of how the long-term care benefit interacts with other components of the policy, including deductions from death benefits;</span></p><p dir="ltr" class="s6d274d38-436c-41fe-b854-540626c05667Normal"><span xml:space="preserve" class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont">    (2)  An illustration of the amount of benefits, the length of benefits, and the guaranteed lifetime benefits, if any, for each covered person;</span></p><p dir="ltr" class="s6d274d38-436c-41fe-b854-540626c05667Normal"><span xml:space="preserve" class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont">    (3)  Any exclusions, reductions, and limitations on benefits of long-term care; and</span></p><p dir="ltr" class="s6d274d38-436c-41fe-b854-540626c05667Normal"><span xml:space="preserve" class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont">    (4)  If applicable to the policy type, the summary must also include:</span></p><p dir="ltr" class="s6d274d38-436c-41fe-b854-540626c05667Normal"><span xml:space="preserve" class="s6d274d38-436c-41fe-b854-540626c05667000001"> </span></p><p dir="ltr" class="s6d274d38-436c-41fe-b854-540626c05667Normal"><span xml:space="preserve" class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont">        (a)  A disclosure of the effects of exercising other rights under the policy;</span></p><p dir="ltr" class="s6d274d38-436c-41fe-b854-540626c05667Normal"><span xml:space="preserve" class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont">        (b)  A disclosure of the premiums attributable to the long-term care component of the policy or certificate;</span></p><p dir="ltr" class="s6d274d38-436c-41fe-b854-540626c05667Normal"><span xml:space="preserve" class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont">        (c)  Current and projected maximum lifetime benefits; and</span></p><p dir="ltr" class="s6d274d38-436c-41fe-b854-540626c05667Normal"><span xml:space="preserve" class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont">        (d)  A disclosure of guarantees related to long-term care costs of insurance charges.</span></p><p dir="ltr" class="s6d274d38-436c-41fe-b854-540626c05667Normal"><span xml:space="preserve" class="s6d274d38-436c-41fe-b854-540626c05667000001"> </span></p><p dir="ltr" class="s6d274d38-436c-41fe-b854-540626c05667Normal"><span xml:space="preserve" class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont">    (5)  A statement that any long-term care inflation protection option required by §§ </span><a href="https://sdlegislature.gov/Rules?Rule=20:06:21:06.01"><span class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont-000002">20:06:21:06.01</span></a><span xml:space="preserve" class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Rules?Rule=20:06:21:06.05"><span class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont-000002">20:06:21:06.05</span></a><span class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont">, inclusive, is not available under this policy.</span></p><p dir="ltr" class="s6d274d38-436c-41fe-b854-540626c05667Normal"><span xml:space="preserve" class="s6d274d38-436c-41fe-b854-540626c05667000001"> </span></p><p dir="ltr" class="s6d274d38-436c-41fe-b854-540626c05667Normal"><span xml:space="preserve" class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont">    The provisions of the policy summary listed above may be incorporated into a basic illustration required to be delivered in accordance with §§ </span><a href="https://sdlegislature.gov/Rules?Rule=20:06:38:04"><span class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont-000002">20:06:38:04</span></a><span xml:space="preserve" class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Rules?Rule=20:06:38:11"><span class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont-000002">20:06:38:11</span></a><span xml:space="preserve" class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont">, inclusive, or into the life insurance policy summary which is required to be delivered in accordance with § </span><span class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont">20:06:14:04.</span></p><p dir="ltr" class="s6d274d38-436c-41fe-b854-540626c05667Normal"><span xml:space="preserve" class="s6d274d38-436c-41fe-b854-540626c05667000001"> </span></p><p dir="ltr" class="s6d274d38-436c-41fe-b854-540626c05667Normal"><span xml:space="preserve" class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont">    </span><span class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont-000000">Source:</span><span xml:space="preserve" class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont"> 23 SDR 55, effective </span><span xml:space="preserve" class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont">October 20, 1996; 28 SDR 157, effective </span><span class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont">May 19, 2002.</span></p><p dir="ltr" class="s6d274d38-436c-41fe-b854-540626c05667Normal"><span xml:space="preserve" class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont">    </span><span class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont-000000">General Authority:</span><span xml:space="preserve" class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont"> SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=58-17B-4"><span class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont-000002">58-17B-4</span></a><span class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont">.</span></p><p dir="ltr" class="s6d274d38-436c-41fe-b854-540626c05667Normal"><span xml:space="preserve" class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont">    </span><span class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont-000000">Law Implemented:</span><span xml:space="preserve" class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont"> SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=58-17B-4"><span class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont-000002">58-17B-4</span></a><span class="s6d274d38-436c-41fe-b854-540626c05667DefaultParagraphFont">.</span></p><p dir="ltr" class="s6d274d38-436c-41fe-b854-540626c05667Normal"><span xml:space="preserve" class="s6d274d38-436c-41fe-b854-540626c05667000001"> </span></p></div></body></html>