Unannotated Code of Maryland (Last Updated: May 16, 2014)

§ 18-117. Reports about benefits funded by acceleration of death benefits

Latest version.

   (a) Required. -- Whenever a long-term care benefit that is funded through a life insurance vehicle by the acceleration of the death benefit is in benefit payment status, the carrier shall provide a monthly report to the policyholder.

(b) Contents of report. -- A report under this section shall include:

   (1) any long-term care benefits paid out during the month;

   (2) an explanation of any changes in the policy, including changes to death benefits or cash values, that result from the payment of long-term care benefits; and

   (3) the amount of long-term care benefits that remain.

HISTORY: An. Code 1957, art. 48A, § 647A; 1997, ch. 35, § 2.

                    
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