NY A10269

Requires long-term care insurance policies to disclose to prospective insureds aged 65 and older their right to designate a third party to receive notices of nonpayment of premiums and cancellation notices.

Permits senior citizen insureds to designate a third party designee to receive cancellation notices, with notification to the insurer allowed either in the same envelope as a premium payment or by certified mail with effective date within ten business days.

Mandates insurers send cancellation notices for nonpayment no later than thirty days before the effective date of cancellation, with notices marked "IMPORTANT INSURANCE POLICY INFORMATION: OPEN IMMEDIATELY" and sent to both the insured and third party designee.

Requires insurers to notify senior citizen insureds not less than annually of third party designee availability and include the designation form with each premium statement if no designation has been made.

Requires insurers to verify any third party designation or termination with the senior citizen insured, either in writing or through oral confirmation with written confirmation provided afterward.