Md. Code Regs. 31.15.01.08

Current through Register Vol. 51, No. 12, June 14, 2024

Section 31.15.01.08 - Policy Names or Titles

A. An insurer, agent, or broker, may not deliver within this State, or issue for delivery within this State, any policy of life insurance or annuity contract without the use of the words "life insurance" or "annuity contract" in its name or title or the use of other language clearly indicating that the policy is a policy of life insurance or an annuity contract.

B. The use of the terms "investment", "investment plan", "expansion plan", "profit", "profits", "profit-sharing", and other similar terms in connection with a policy of life insurance or an annuity contract in a context or under such circumstances or conditions as to have the capacity or tendency to mislead a purchaser or prospective purchaser of the policy or contract to believe that he will receive, or that it is possible that he will receive, something other than a life insurance policy or annuity contract or some benefit not provided in the policy or contract or some benefit not available to other persons of the same class and equal expectation of life is unlawful and is prohibited.