Long-term care insurance (LTCI) agents and brokers may soon be giving applicants a revised suitability worksheet.
Regulators at the National Association of Insurance Commissioners (NAIC), a group for insurance departments, are drafting an update of the NAIC’s model Long-Term Care Insurance Personal Worksheet, which was last revised in 2000 and in 2003.
The NAIC puts the model worksheet in its Guidance Manual for Rating Aspects of the Long-Term Care Insurance Model Regulation.
A state does not have to adopt NAIC models, but many adopt NAIC models as is, and some start with an NAIC model when developing their own laws and regulations.