Utah Code 31A-22-2003. Scope
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(1) The requirements of this part apply to limited long-term care insurance policies and certificates marketed, delivered, or issued for delivery in this state on or after July 1, 2020.
Terms Used In Utah Code 31A-22-2003
- Insurance: includes :(96)(b)(i) a risk distributing arrangement providing for compensation or replacement for damages or loss through the provision of a service or a benefit in kind;(96)(b)(ii) a contract of guaranty or suretyship entered into by the guarantor or surety as a business and not as merely incidental to a business transaction; and(96)(b)(iii) a plan in which the risk does not rest upon the person who makes an arrangement, but with a class of persons who have agreed to share the risk. See Utah Code 31A-1-301
- Long-term care insurance: includes :
(121)(b)(i) any of the following that provide directly or supplement long-term care insurance:(121)(b)(i)(A) a group or individual annuity or rider; or(121)(b)(i)(B) a life insurance policy or rider;(121)(b)(ii) a policy or rider that provides for payment of benefits on the basis of:(121)(b)(ii)(A) cognitive impairment; or(121)(b)(ii)(B) functional capacity; or(121)(b)(iii) a qualified long-term care insurance contract. See Utah Code 31A-1-301- Medicare: means the "Health Insurance for the Aged Act" Title XVIII of the federal Social Security Act, as then constituted or later amended. See Utah Code 31A-1-301
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
(2) Laws and regulations designed or intended to apply to Medicare supplement insurance policies may not be applied to limited long-term care insurance. - Long-term care insurance: includes :