§ 17–301
Statutes in effect as of October 1, 2026.
Md. Code Ann., Ins. § 17-301 (2026)
Title 17. Group Life Insurance
Subtitle 3. Group Life Insurance Policy Provisions
§ 17–301LinkCopy Citation
(a)
Except as provided in subsection (b) of this section, a policy of group life insurance may not be delivered in the State unless it contains in substance:
(1)
the provisions of §§ 17-302 through 17-311 of this subtitle; or
(2)
provisions that in the opinion of the Commissioner are:
(i)
more favorable to the insureds; or
(ii)
at least as favorable to the insureds and more favorable to the policyholder.
(b)
(1)
Sections 17-307 through 17-311 of this subtitle do not apply to policies issued to a creditor to insure debtors of the creditor.
(2)
The standard provisions required for individual life insurance policies do not apply to policies of group life insurance.
(3)
If a policy of group life insurance is on a plan other than the term plan, the policy:
(i)
shall contain a nonforfeiture provision that in the opinion of the Commissioner is equitable to the insured and the policyholder; but
(ii)
need not contain the same nonforfeiture provisions required for individual life insurance policies.