Section 16-301 - Scope of subtitle; applicability of subtitle(a) This subtitle does not apply to: (2) group life insurance;(4) an annuity contract or reversionary annuity contract;(5) a term policy of a uniform amount that:(i) does not provide guaranteed nonforfeiture or endowment benefits or provide for renewal;(ii) is for 20 years or less and expires before the insured's age 71; and(iii) requires uniform premiums, payable during the entire term of the policy;(6) a term policy of a decreasing amount: (i) that does not provide guaranteed nonforfeiture or endowment benefits; and(ii) on which the adjusted premium, calculated under the applicable provisions of §§ 16-307 through 16-309 of this subtitle, is less than the adjusted premium on a policy or renewal of a policy of a uniform amount if the policy of the uniform amount: 1. does not provide guaranteed nonforfeiture or endowment benefits;2. is issued at the same age and for the same initial amount of insurance;3. is for 20 years or less and expires before the insured's age 71; and4. requires uniform premiums, payable during the entire term of the policy; or(7) a policy that: (i) does not provide guaranteed nonforfeiture or endowment benefits; and(ii) has a cash surrender value or present value for any paid-up nonforfeiture benefit, at the beginning of any policy year, calculated under the applicable provisions of §§ 16-305 through 16-309 of this subtitle, that does not exceed 1.5% of the amount of insurance at the beginning of the same policy year.(b) For purposes of determining the applicability of this subtitle, the age at expiry for a joint term life insurance policy is the age at expiry of the oldest life.