{"data":{"id":"us-ak/as-21.53.064","jurisdiction":"us-ak","citation":"AS 21.53.064","heading":"Nonforfeiture benefits.","body":"(a) Except as provided in (b) of this section, a long-term care insurance policy may not be delivered or issued for delivery in this state unless the policyholder has been offered the option of purchasing a policy including a nonforfeiture benefit. The insurer may offer a nonforfeiture benefit in the form of a rider to the policy. If a policyholder declines the nonforfeiture benefit, the insurer shall provide a contingent benefit upon lapse that is available for a specified period of time following a substantial increase in premium rates.\n(b) With respect to group long-term care insurance, an insurer shall make the offer required in (a) of this section to the group policyholder. For a policy issued as group long-term care insurance, other than a continuing care retirement community or other similar entity, the insurer shall make the offer required in (a) of this section to each proposed certificate holder.","path":["Title 21. Insurance.","Chapter 53. Long-term Care Insurance."],"source_url":"https://www.akleg.gov/basis/statutes.asp#21.53.064","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:17:40Z","sha256":"01b79e5c12eb4ad93ec18ff4804cb620e60fafe677ab1da6d41756e362757d40","source_id":"us-ak","stale":false,"prev":"us-ak/as-21.53.062","next":"us-ak/as-21.53.066"},"notice":"GroundRules: Original legal text. Not legal advice."}