Taking Care of Mom and Dad: Disclosure Requirements

An outline of coverage must be delivered at the time your parents apply for group LTC insurance. (For direct-response solicitations, the outline of coverage must be delivered at their request -- but no later than at the time of policy delivery.) The outline must include a description of the principal benefits and coverage provided, a statement of the principal exclusions, reductions and limitations of the policy, its renewal provisions and a description of your parents' rights regarding continuation, conversion and replacement.

The outline of coverage must state that it is a summary of the policy only, and the complete policy should be consulted to determine governing contractual provisions.