Provides that health insurance contracts and policies for long term care shall be renewable each year at the option of the insured unless there is nonpayment of premiums.
Provides that the tax credits for long-term health care insurance shall be up to $1,000 of the premiums paid for each policy of such insurance.
Requires insurers which issue contracts providing long term care benefits to maintain records of policies cancelled during each year and requires that such records indicate which policies were cancelled due to, or within thirty days after, an increase in policy premiums.
Requires insurers which issue contracts providing long term care benefits to maintain records of policies cancelled during each year and requires that such records indicate which policies were cancelled due to, or within thirty days after, an increase in policy premiums.
Enacts the New York automobile insurance fraud and premium reduction act; provides that this act is aimed at reducing insurance fraud and thus lowering the cost of insurance premiums; provides a provision for compensation to a person that reports insurance fraud to the authorities; further provides that this act also increases the penalty for insurance fraud; appropriates $3,100,000 therefor.
Prohibits insurers from selling policies of insurance which duplicate existing coverage relative to long term health care policies.
Prohibits insurers from selling policies of insurance which duplicate existing coverage relative to long term health care policies.
Provides a personal income tax deduction for long term care insurance riders under life insurance policies.
Relates to summaries of readable and understandable insurance policies which shall include the limits of insurance, the term of the policy, the amount of annual premium and the amount of deductibles and a statement.
Relates to summaries of readable and understandable insurance policies which shall include the limits of insurance, the term of the policy, the amount of premium and the amount of deductibles and a statement.