Code of Maryland Regulations
Title 31 - MARYLAND INSURANCE ADMINISTRATION
Subtitle 15 - UNFAIR TRADE PRACTICES
Chapter 31.15.01 - Special Policies and Misleading Advertising
Section 31.15.01.02 - Purpose

Universal Citation: MD Code Reg 31.15.01.02

Current through Register Vol. 51, No. 19, September 20, 2024

The purpose of this chapter is to assure fair disclosure of relevant facts in the sale of life insurance and annuity contracts. This chapter is also designed to protect citizens of Maryland as purchasers and prospective purchasers of life insurance policies or annuity contracts against the use of sales methods which are misleading because of:

A. The omission of facts fairly describing the subject matter as a life insurance policy or annuity contract and the benefits obtainable thereunder;

B. An undue emphasis upon facts which, however true, are not relevant to the sale of life insurance or annuities; or

C. An undue emphasis upon features which are of incidental or secondary importance to the life insurance aspects of a policy.

Disclaimer: These regulations may not be the most recent version. Maryland may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.