2013 Maryland Code
§ 16-213 - Brief description of policy

MD Ins Code § 16-213 (2013) What's This?


(a) A policy of life insurance other than a policy of group life insurance may not be delivered or issued for delivery in the State unless the policy has a legible and brief description of the policy on the first page of the policy.

(b) The brief description shall include:

(1) the title or type or plan of policy, including the term “industrial” or “wholesale” if applicable;

(2) how long premiums are to be paid;

(3) if and when the premium may change, except for a change because of a supplementary agreement;

(4) if the benefit is not level, the use of the term “graded benefit” or a similar term to so indicate;

(5) whether the policy is participating or nonparticipating;

(6) if the policy is written on a rated underwriting basis, the terms “substandard class” or “rated class” or a substantially similar term; and

(7) if the policy provides for the return of premiums as an additional benefit, the period during which the benefit is applicable.

(c) Notwithstanding subsections (a) and (b) of this section, the brief description need not contain the items of information described in subsection (b) of this section, except for the items described in subsection (b)(1) and (5) of this section, if in the opinion of the Commissioner any of those items are:

(1) already contained in and presented conspicuously in tabular form on the first page of the policy; or

(2) presented conspicuously elsewhere in the policy and referred to in the description on the first page of the policy.

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