Statute · California Insurance Code
Cal. Ins. Code § 10237.5 — Inflation Escalator and Benefit Increases
Cal. Ins. Code § 10237.5
- Type
- Statute
- Source
- California Insurance Code
- Jurisdiction
- California
- Date
- 2000-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(a) An inflation protection provision that increases benefit levels annually in a manner so that the increases are compounded annually at a rate not less than 5 percent shall be included in a long-term care insurance policy unless an insurer obtains a rejection of inflation protection signed by…
Citator
Cal. Ins. Code § 10237.5 — Inflation Escalator and Benefit Increases is in force in the current edition of the Code, and nothing recorded condemns it.
(a) An inflation protection provision that increases benefit levels annually in a manner so that the increases are compounded annually at a rate not less than 5 percent shall be included in a long-term care insurance policy unless an insurer obtains a rejection of inflation protection signed by the policyholder.
(b) The rejection, to be included in the application or on a separate form, shall state:
“I have reviewed the outline of coverage and the graphs that compare the benefits and premiums of this policy with and without inflation protection. Specifically, I have reviewed the plan, and I reject 5 percent annual compound inflation protection.
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__________ |
__________ |
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Signature of Applicant |
Date” |