NAC687B.025. “Group long-term care insurance” defined.

“Group long-term care insurance” means a long-term care insurance contract which is delivered or issued for delivery in this State to:

     1. One or more employers or labor organizations, or to a trust or to the trustees of a fund established by one or more employers or labor organizations, or both, for employees or former employees, or both, or for members or former members, or both, of the labor organizations;

     2. Any professional, trade or occupational association for its members or former or retired members, or any combination thereof, if the association:

     (a) Is composed of persons who are or were actively engaged in the same profession, trade or occupation; and

     (b) Has been maintained in good faith for purposes other than obtaining insurance;

     3. An association or trust, or the trustee of a fund, established, created or maintained for the benefit of members of one or more associations; or

     4. Any other group, if the Commissioner finds that:

     (a) The issuance of the long-term care insurance contract to that group is not contrary to the best interests of the public;

     (b) The issuance of the long-term care insurance contract would result in economies of acquisition or administration; and

     (c) The benefits are reasonable in relation to the premiums charged.

     (Added to NAC by Comm’r of Insurance, eff. 11-21-88; A by R028-10, 12-16-2010, eff. 10-1-2011)