20-1136. Accelerated payments of certain benefits in life insurance policies

A. Notwithstanding any other provision of this title, any policy of life insurance may provide, in accordance with the provisions of subsection B, for the acceleration of death benefits in advance of the time such benefits would otherwise be payable upon the occurrence of a terminal illness, a catastrophic illness, or eligibility for long-term care.

B. The director may adopt rules regarding advertising, disclosure, benefit levels, benefit eligibility, nonforfeiture, and reserves for the accelerated payment of death benefits set forth under subsection A.

20-1136. Accelerated payments of certain benefits in life insurance policies

A. Notwithstanding any other provision of this title, any policy of life insurance may provide, in accordance with the provisions of subsection B, for the acceleration of death benefits in advance of the time such benefits would otherwise be payable upon the occurrence of a terminal illness, a catastrophic illness, or eligibility for long-term care.

B. The director may adopt rules regarding advertising, disclosure, benefit levels, benefit eligibility, nonforfeiture, and reserves for the accelerated payment of death benefits set forth under subsection A.