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May 21, 2014 at 10:02 AM
Connecticut has added two new laws that could affect how issuers and sellers of long-term care insurance (LTCI) communicate with consumers.
Gov. Dannel Malloy, D, signed S.B. 9 and S.B. 199 into law earlier this month.
S.B. 9 calls for anyone taking an LTCI coverage application to make sure that the applicant understands that the cost of the coverage could increase.
The seller would have to provide a written warning that the premiums could go up, and the applicant would have to sign a document acknowledging that the application knew that the rates could go up.
