Md. Code, IN§ 18-117

Current with changes from the 2024 legislative session from Chs. 2 through 1049, effective on or before 6/1/2024
Section 18-117 - Reports about benefits funded by acceleration of death benefits
(a) 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) 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.

Md. Code, IN§ 18-117