§ 18-117
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/md/insurance/18-117A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§18–117.
(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.