N.J. Admin. Code § 11:4-34.29

Current through Register Vol. 56, No. 24, December 18, 2024

Section 11:4-34.29 - Training requirements

(a) No individual producer licensed on or after February 17, 2009 may sell, solicit or negotiate long-term care insurance unless the individual is licensed as an insurance producer for accident and health or sickness or life insurance pursuant to N.J.S.A. 17:22A-26 et seq. and has completed a one-time initial training course as set forth in (b) and (c) below. The training shall meet the requirements set forth in (b) below.

1. An individual already licensed and selling, soliciting or negotiating long-term care insurance on February 17, 2009 may not continue to sell, solicit or negotiate long term care insurance after July 1, 2009 unless the individual completes a one-time initial training course as set forth in (b) and (c) below by no later than July 1, 2009.

2. In addition to the one-time initial training course, an individual who sells, solicits or negotiates long-term care insurance shall complete ongoing training as set forth in (b) and (c) below.

3. The training requirements of (b) and (c) below shall be approved in accordance with course approval standards found in N.J.A.C. 11:17-3.

(b) The one-time initial training required by this section shall be no less than eight hours and the ongoing training required by this section shall be no less than four hours every 24 months.

(c) The initial and ongoing training required by this section shall consist of topics related to long-term care insurance, long-term care services and, if applicable, qualified state long-term care insurance Partnership Programs, including, but not limited to:

1. State and Federal regulations and requirements and the relationship between qualified state long-term care insurance Partnership Programs and other public and private coverage of long-term care services, including Medicaid;

2. Available long-term services and providers;

3. Changes or improvements in long-term care services or providers;

4. Alternatives to the purchase of private long-term care insurance;

5. The effect of inflation on benefits and the importance of inflation protection; and

6. Consumer suitability standards and guidelines.

(d) The training required by this section shall not include training that is insurer or company product specific or that includes any sales or marketing information, materials, or training, other than those required by State or Federal law.

(e) Insurers shall obtain verification that a producer has received the training required by this section before a producer is permitted to sell, solicit or negotiate the insurer's long-term care insurance products. In addition, insurers shall maintain records of such verification, and shall make such records available to the Department upon request.

(f) Insurers shall maintain records with respect to the training of their appointed producers concerning the distribution of their Partnership Policies that will enable the Department to provide assurance to the state Medicaid agency that producers have received the training required by this section and that producers have demonstrated an understanding of the Partnership Policies and their relationship to public and private coverage of long-term care, including Medicaid, in this State. These records shall be made available to the Department upon request and shall be maintained by the insurer for as long as the producer is appointed by the company.

(g) The satisfaction of the training requirements set forth in this section in any state shall be deemed to satisfy the training requirements in this State.

N.J. Admin. Code § 11:4-34.29

New Rule, R.2009 d.65, effective 2/17/2009.
See: 40 N.J.R. 6377(a), 41 N.J.R. 881(b).
Former N.J.A.C. 11:4-34.29, Form filings, recodified to N.J.A.C. 11:4-34.31.