(A) In order to carry out for full and fair disclosure in the sale of medicare supplement policies, no meditreatment supplement policy or certificate shall be delivered in this state, unless an outline of coverage is yielded to the applicant at the time application is made.
You are watching: At what point must an outline of coverage be delivered
(B) The superintendent of insurance shall prescribe the format and content of the outline of coverage required by department (A) of this section. For objectives of this section, "format" implies style, arrangements and also all at once appearance, including such items as the dimension, shade and prestige of form, and also setup of text and captions. The outline of coverage shall include:
(1) A description of the major benefits and also coverage provided in the policy;
(2) A statement of the regeneration provisions, including any reservation by the issuer of a appropriate to change premiums, and disclosure of the existence of any kind of automatic renewal premium increases based upon the age of the policyholder or certificate holder;
(3) A statement that the outline of coverage is an introduction of the plan issued or applied for and also that the plan have to be consulted to recognize governing contractual provisions.
(C) The superintendent may prescribe by preeminence a traditional develop and the contents of an informational brochure for persons eligible for medicare, which is intfinished to improve the buyer"s ability to pick the the majority of appropriate coverage and also improve the buyer"s knowledge of meditreatment. Except in the situation of direct response insurance policies, the superintendent may require by dominance that the informational magazine be provided to any kind of prospective insureds eligible for medicare concurrently via delivery of the outline of coverage. With respect to direct response insurance policies, the superintendent might require by dominance that the prescribed brochure be offered upon repursuit to any prospective insureds eligible for meditreatment, yet in no occasion later on than the time of plan shipment.
(D) The superintendent might take on rules for captions or notification needs, identified to be in the public interest and designed to increate prospective insureds that certain insurance covereras are not meditreatment supplement coverages, for all sickness and also accident insurance policies and also subscriber contracts marketed to persons eligible for meditreatment, other than:
(1) Medicare supplement policies; or
(2) Disability income policies.
See more: Batman Begins: You Re Not The Devil You Re Practice, “You'Re Not The Devil
(E) The superintendent may embrace reasonable rules to govern the full and fair disclocertain of indevelopment in connection via the replacement of sickness and also accident insurance plans, subscriber contracts, or certificates by persons eligible for meditreatment.