Claimants may obtain, upon request, copies of claim-related documents. However, certain documents, including documents that contain medically privileged information, are excluded from the documents an insurer is required to provide to a claimant.
All medical information solicited or obtained by any person soliciting or entering into a life settlement is subject to the Insurance Information and Privacy Protection Act concerning confidentiality of medical information.
A provider entering into a life settlement contract with any owner of a policy, wherein the insured is terminally ill, must first obtain the insured’s written consent to the release of his or her medical records to a provider, settlement broker, or insurance producer and, if the policy was issued less than two years from the date of application for a settlement contract, to the insurance company that issued the policy.
A provider entering into a life settlement contract with any owner of a policy, wherein the insured is terminally ill, shall first obtain the insured’s written consent to the release of his or her medical records to a provider, settlement broker, or insurance producer and, if the policy was issued less than two years from the date of application for a settlement contract, to the insurance company that issued the policy.
All medical information solicited or obtained by any licensee shall be subject to the applicable provision of state law relating to confidentiality of medical information, if not otherwise provided in this act.
It is a fraudulent life settlement act and a violation for any person to fail to provide the disclosures or file the required reports with the commissioner as required.
Sales of disability insurance, Medicare supplement insurance and long-term care insurance sold to persons aged 65 years or older, shall be registered by the insurer with the commissioner. The commissioner shall provide facilities for the computerized recordkeeping of all registered policies and certificates. The commissioner shall adopt regulations to implement and administer registration pursuant to this section. Regulations shall include criteria for releasing the registered information to parties outside the department.
Defines "personal information," which includes medical information. Defines "medical information" as that which (1) relates to an individual's physical or mental condition, medical history or medical treatment, or (2) is obtained from a medical professional or medical care institution, from the individual, or from the individual's spouse, parent, or legal guardian.
Notice must include types of information collected; techniques used to collect the information; types of permissible disclosures; and description of subject's rights
