§ 16–202
Statutes in effect as of October 1, 2026.
Md. Code Ann., Ins. § 16-202 (2026)
Title 16. Life Insurance and Annuities
Subtitle 2. Life Insurance Policy Provisions
§ 16–202LinkCopy Citation
(a)
(1)
Each policy of life insurance shall contain a provision that a grace period shall be allowed within which the payment of any premium after the first may be made.
(2)
The grace period shall be:
(i)
30 days;
(ii)
at the option of the insurer, 1 month of not less than 30 days; or
(iii)
4 weeks, for a policy of industrial life insurance with premiums payable more frequently than monthly.
(b)
The policy continues in full force during the grace period.
(c)
If a claim arises under the policy during the grace period, the amount of any premium due or overdue may be deducted from the policy proceeds.