(2) When a group long term care insurance policy is issued, the offer required in subsection (1) of this section must be made to the group policyholder. However, if the policy is issued as group long term care insurance as described in ORS 743.652 (4)(d), other than to a continuing care retirement community or similar entity, the offering shall be made to each proposed certificate holder.
(3) The Director of the Department of Consumer and Business Services by rule shall specify:
(a) The type or types of nonforfeiture benefits to be offered as part of long term care insurance policies and certificates;
(b) The standards for nonforfeiture benefits; and
(c) The standards governing contingent benefits upon lapse, including a determination of the specified period of time during which a contingent benefit upon lapse will be available and the substantial premium increase that triggers a contingent benefit upon lapse as described in subsection (1) of this section.
(4) This section is exempt from ORS 743A.001. [2007 c.486 §7; 2011 c.69 §6]