Definitions

As used in Sections 38a-458-1 to 38a-458-12, inclusive of the Regulations of Connecticut State Agencies: (a) ‘‘Long-term care benefits’’ mean benefits payable under a life insurance policy or annuity contract: (1) to a policyowner or certificate holder, 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 or the account value under the annuity contract, and (3) which are payable in periodic payments upon confinement. (b) ‘‘Insurance policy’’ or ‘‘policy’’ means an insurance policy, annuity contract, or certificate or rider or endorsement thereto.