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§ 16-211. Payment of benefits upon death of insured

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 16. Life Insurance and Annuities
Subtitle 2. Life Insurance Policy Provisions (Refs & Annos)
MD Code, Insurance, § 16-211
§ 16-211. Payment of benefits upon death of insured
In general
(a) Each policy of life insurance shall contain a provision that when benefits become payable because of the death of the insured, settlement shall be made on receipt of proof of death and, at the insurer's option, on surrender of the policy, proof of the interest of the claimant, or both.
Refund of premiums
(b) The provision also shall state that benefits include the refund of premiums paid after the month in which death occurred.

Credits

Added by Acts 1996, c. 11, § 1, eff. Oct. 1, 1997.
Formerly Art. 48A, § 397.
MD Code, Insurance, § 16-211, MD INSURANCE § 16-211
Current through all legislation from the 2022 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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