Definitions

As used in sections 38a-458-1 to 38a-458-12, inclusive: (a) "Long-term care benefits" mean benefits payable under a life insurance policy: (1) to a policyowner or certificateholder, during the lifetime of the insured upon the occurrence of confinement in a long-term care facility, (2) which reduce the death benefit otherwise payable under the life insurance policy, and (3) which are payable in periodic payments upon confinement. (b) "Insurance policy" or "policy" means an insurance policy or certificate or rider or endorsement thereto.