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§ 15-218. Change of beneficiary

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 15. Health Insurance
Subtitle 2. Individual Health Insurance Policy Forms and Provisions (Refs & Annos)
MD Code, Insurance, § 15-218
§ 15-218. Change of beneficiary
Currentness
In general
(a) Subject to subsection (b) of this section, each policy of health insurance shall contain the following provision:
“Change of beneficiary: Unless the insured makes an irrevocable designation of beneficiary, the right to change a beneficiary is reserved to the insured and the consent of the beneficiary or beneficiaries shall not be requisite to surrender or assignment of this policy or to any change of beneficiary or beneficiaries, or to any other changes in this policy.”
Optional clause
(b) An insurer may choose to omit from the provision set forth in subsection (a) of this section the clause:
“Unless the insured makes an irrevocable designation of beneficiary”.

Credits

Added by Acts 1997, c. 35, § 2, eff. Oct. 1, 1997.
Formerly Art. 48A, § 451.
MD Code, Insurance, § 15-218, MD INSURANCE § 15-218
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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