A health benefit plan that provides medical or disability benefits for an extended period of time. Some examples are cancer, long-term care, and long-term disability policies. The plan’s benefits may not begin for several years after policy purchase and claims usually extend beyond the valuation date.
Congratulations! You're now Froogled Up™ on Section 2.10 from ASOP 5!
Feel free to use it throughout your financial/insurance life.