Section 16-219 - Provision allowing reduction of the face amount of a policy(a)(1) If a policy of universal or variable life insurance contains a provision that allows a policyholder to reduce the face amount of the policy, the insurer shall provide a written notice to the policyholder.(2) The notice shall state: (i) that the policyholder's policy allows for a reduction of the face amount of the policy as an option to retain coverage;(ii) the amount to be paid to prevent the policy from lapse; and(iii) the insurer's customer service telephone number.(b) The notice shall be sent to a policyholder's last known address:(1) at the beginning of the grace period under § 16-202 of this subtitle; and(2) at least 30 days before termination of coverage.Added by 2020 Md. Laws, Ch. 527,Sec. 1, eff. 1/1/2021.