Code of Maryland Regulations
Title 31 - MARYLAND INSURANCE ADMINISTRATION
Subtitle 09 - LIFE INSURANCE AND ANNUITIES
Chapter 31.09.16 - Accelerated Benefits
Section 31.09.16.05 - Assignee or Irrevocable Beneficiary
Universal Citation: MD Code Reg 31.09.16.05
Current through Register Vol. 51, No. 19, September 20, 2024
Prior to the payment of the accelerated benefit, the insurer shall obtain from an assignee or irrevocable beneficiary a signed acknowledgement of concurrence for payout. If the insurer is the assignee under the policy, no acknowledgement is required.
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