Code of Maryland Regulations
Title 31 - MARYLAND INSURANCE ADMINISTRATION
Subtitle 15 - UNFAIR TRADE PRACTICES
Chapter 31.15.03 - Life Insurance Disclosure
Section 31.15.03.03 - Scope
Universal Citation: MD Code Reg 31.15.03.03
Current through Register Vol. 51, No. 19, September 20, 2024
A. With the exception of §C of this regulation, this chapter applies to a solicitation, negotiation, or procurement of life insurance occurring within this State.
B. Regulation .05D of this chapter applies only to an existing nonexempt policy held by a policyowner residing in Maryland.
C. Unless otherwise specifically included, this chapter does not apply to:
(1) Individual and group annuity contracts;
(2) Credit life insurance;
(3) Group life insurance, except for disclosures relating to preneed funeral contracts or prearrangements;
(4) Life insurance policies issued in connection with pension and welfare plans as defined by and subject to the federal Employee Retirement Income Security Act of 1974 (ERISA), 29 U.S.C. §
1001 et seq., as amended; or
(5) Variable life insurance under which the amount or duration of the life insurance varies according to the investment experience of a separate account.
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.
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