{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-4429","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-4429","heading":"Suitability standards","body":"A. 1. This section shall not apply to life insurance policies\n\nor riders containing accelerated long-term care benefits.\n\n2. For certificates issued on or after the effective date of\n\nthis act, under a group long-term care insurance policy as defined\n\nin Section 4424 of Title 36 of the Oklahoma Statutes, which policy\n\nwas in force at the time this act became effective, the provisions\n\nof this section shall not apply.\n\nB. Every provider of long-term care insurance shall:\n\n1. Develop and use suitability standards to determine whether\n\nthe purchase or replacement of long-term care insurance is\n\nappropriate for the needs of the applicant;\n\n2. Train its agents in the use of its suitability standards;\n\nand\n\n3. Maintain a copy of its suitability standards and make them\n\navailable for inspection upon request by the Insurance Commissioner.\n\nC. 1. To determine whether the applicant meets the standards\n\ndeveloped by the provider, the agent and provider shall develop\n\nprocedures that take the following into consideration:\n\na. the ability to pay for the proposed coverage and other\n\npertinent financial information related to the\n\npurchase of the coverage,\n\nb. the applicant's goals or needs with respect to long-\n\nterm care and the advantages and disadvantages of\n\ninsurance to meet these goals or needs, and\n\nc. the values, benefits and costs of the applicant's\n\nexisting insurance, if any, when compared to the\n\nvalues, benefits and costs of the recommended purchase\n\nor replacement.\n\n2. The provider and, where an agent is involved, the agent\n\nshall make reasonable efforts to obtain the information set out in\n\nparagraph 1 of this subsection. The efforts shall include, at or\n\nprior to application, providing the applicant with a personal\n\nworksheet and a disclosure form which have been prescribed by the\n\nCommissioner and are consistent with the National Association of\n\nInsurance Commissioners (NAIC) Long-Term Care Insurance Model\n\nRegulation.\n\n3. A completed personal worksheet shall be returned to the\n\nprovider prior to the provider's consideration of the applicant for\n\ncoverage, except that the personal worksheet need not be returned\n\nfor sales of employer group long-term care insurance to employees\n\nand their spouses.\n\n4. The sale or dissemination outside the company or agency by\n\nthe provider or agent of information obtained through the personal\n\nworksheet is prohibited.\n\nD. The provider shall use the suitability standards it has\n\ndeveloped pursuant to this section and information furnished by the\n\napplicant in determining whether issuing long-term care insurance\n\ncoverage to an applicant is appropriate.","path":["OK Code","Title 36"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os36.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"75c2a8a37707a7e1b79ed361da069bf8b1ef6abd80fed90b32c6e72eaefc1d29","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-4428","next":"us-ok/okla.-stat.-tit.-36-36-4430"},"notice":"GroundRules: Original legal text. Not legal advice."}