§ 18-108
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/md/insurance/18-108A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§18–108.
(a)If long-term care benefits are part of a life insurance policy or rider, the carrier shall provide a policy summary at the time of policy delivery.
(b)The policy summary required to be delivered under subsection
(a)of this section shall include:
(1)information required to be included in an outline of coverage under § 18-106 of this title;
(2)an explanation of how the long-term care benefits interact with other components of the life insurance policy, including deductions from death benefits;
(3)an illustration of the amount of benefits, length of benefit, and guaranteed lifetime benefits if any, for each covered individual;
(4)any exclusions, reductions, or limitations on benefits of long-term care; and
(5)if applicable to the policy type:
(i)a disclosure of the effects of exercising other rights under the policy;
(ii)a disclosure of guarantees related to long-term care costs of insurance charges; and
(iii)current and projected maximum lifetime benefits.