Md. Code Regs. 31.15.01.02

Current through Register Vol. 51, No. 21, October 18, 2024

Section 31.15.01.02 - Purpose

The purpose of this chapter is to assure fair disclosure of relevant facts in the sale of life insurance and annuity contracts. This chapter is also designed to protect citizens of Maryland as purchasers and prospective purchasers of life insurance policies or annuity contracts against the use of sales methods which are misleading because of:

A. The omission of facts fairly describing the subject matter as a life insurance policy or annuity contract and the benefits obtainable thereunder;

B. An undue emphasis upon facts which, however true, are not relevant to the sale of life insurance or annuities; or

C. An undue emphasis upon features which are of incidental or secondary importance to the life insurance aspects of a policy.

Md. Code Regs. 31.15.01.02