(a) Every insurer shall maintain records for each producer of the producer’s amount of replacement sales as a per cent of the producer’s total annual sales and the amount of lapses of long-term care insurance policies sold by the producer as a per cent of the producer’s total annual sales.
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Terms Used In Hawaii Revised Statutes 431:10H-222
- Long-term care insurance: means any insurance policy or rider advertised, marketed, offered, or designed to provide coverage for not less than twelve consecutive months for each covered person on an expense incurred, indemnity, prepaid, or other basis, for one or more necessary or medically necessary diagnostic, preventive, therapeutic, rehabilitative, maintenance, or personal care services, provided in a setting other than an acute care unit of a hospital. See Hawaii Revised Statutes 431:10H-104
- NAIC: means the National Association of Insurance Commissioners. See Hawaii Revised Statutes 431:10H-104
- Policy: means , for the purposes of this article, any policy, contract, subscriber agreement, rider, or endorsement delivered or issued for delivery in this State by an insurer; fraternal benefit society; nonprofit health, hospital, or medical service corporation; prepaid health plan; health maintenance organization; or any similar organization. See Hawaii Revised Statutes 431:10H-104
“Claim” means a request for payment of benefits under an in force policy regardless of whether the benefit claimed is covered under the policy or any terms or conditions of the policy have been met. Claims shall be subject to the definition of “denied”.
“Denied” means the insurer refuses to pay a claim for any reason other than for claims not paid for failure to meet the waiting period or because of an applicable preexisting condition.
“Policy” means only long-term care insurance.
“Report” means on a statewide basis.
