Home Table of Contents

§ 18-108. Summaries of long-term care benefits in life insurance policies

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 18. Long-Term Care Insurance (Refs & Annos)
MD Code, Insurance, § 18-108
§ 18-108. Summaries of long-term care benefits in life insurance policies
Currentness
In general
(a) If long-term care benefits are part of a life insurance policy or rider, the carrier shall provide a policy summary at the time of policy delivery.
Contents of policy summary
(b) The policy summary required to be delivered under subsection (a) of this section shall include:
(1) information required to be included in an outline of coverage under § 18-106 of this title;
(2) an explanation of how the long-term care benefits interact with other components of the life insurance policy, including deductions from death benefits;
(3) an illustration of the amount of benefits, length of benefit, and guaranteed lifetime benefits if any, for each covered individual;
(4) any exclusions, reductions, or limitations on benefits of long-term care; and
(5) if applicable to the policy type:
(i) a disclosure of the effects of exercising other rights under the policy;
(ii) a disclosure of guarantees related to long-term care costs of insurance charges; and
(iii) current and projected maximum lifetime benefits.

Credits

Added by Acts 1997, c. 35, § 2, eff. Oct. 1, 1997.
Formerly Art. 48A, §§ 647, 647A.
MD Code, Insurance, § 18-108, MD INSURANCE § 18-108
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.
End of Document