# Insurance (GIN)

## Title 16. Life Insurance and Annuities

### Subtitle 3. Maryland Standard Nonforfeiture Law for Life Insurance

#### Section 16-306

On default of a premium payment due on a policy anniversary, the present value of any paid-up nonforfeiture benefit available under the policy, calculated as of that policy anniversary:

(1) shall at least equal the cash surrender value provided under the policy, calculated as of that policy anniversary; or

(2) if no cash surrender value is provided, shall equal the cash surrender value that would have been required under this subtitle absent a condition that premiums shall have been paid for at least a specified period.

---

Md. Code Ann., Ins. (as displayed at mgaleg.maryland.gov, October 16, 2026)