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(1)
(a) A limited long-term care insurance policy may offer the option of purchasing a policy or certificate including a nonforfeiture benefit.
(b) The offer of a nonforfeiture benefit may be in the form of a rider that is attached to the policy.
(c) In the event the policy holder or certificate holder does not purchase a nonforfeiture benefit, the insurer shall provide a contingent benefit upon lapse that shall be available for a specified period of time following a substantial increase in premium rates.
(2) If an insurer issues a group limited long-term care insurance policy, the insurer shall:
(a) make any offer of a nonforfeiture benefit to the group policyholder; and
(b) make any offer to each proposed certificate holder.