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§ 17-307. Payment of benefits upon death of insured

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 17. Group Life Insurance
Subtitle 3. Group Life Insurance Policy Provisions (Refs & Annos)
MD Code, Insurance, § 17-307
§ 17-307. Payment of benefits upon death of insured
Currentness
Each policy of group life insurance shall contain a provision that any sum due because of the death of the insured is payable to the beneficiary designated by the insured, subject to:
(1) the provisions of the policy as to payment of all or part of the sum if a designated beneficiary is not alive at the death of the insured; and
(2) any right that the insurer reserves in the policy and sets forth in the certificate to pay at its option a part of the sum, not exceeding $2,500, to a person that the insurer considers equitably entitled to it for having incurred funeral or other expenses incident to the insured's death or last illness.

Credits

Added by Acts 1996, c. 11, § 1, eff. Oct. 1, 1997.
Formerly Art. 48A, § 432.
MD Code, Insurance, § 17-307, MD INSURANCE § 17-307
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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