# COMAR Title 31 — Maryland Insurance Administration

## Subtitle 09 — Life Insurance and Annuities

### Chapter 06 — Notice of Nonforfeiture Provisions in Lapsed Life Policies

**Authority:** Insurance Article, §2-109 and Title 16, Subtitle 3, Annotated Code of Maryland

**Administrative History:** Effective date: February 27, 1941

**Administrative History:** Amended effective May 1, 1968

**Administrative History:** Chapter recodified from COMAR 09.30.50 to COMAR 31.09.06 effective September 7, 1998 (25:18 Md. R. 1439)

**Administrative History:** Regulation .01 amended effective October 24, 2016 (43:21 Md. R. 1169)

#### Regulation .01 Notice Requirement.

*COMAR 31.09.06.01*

For any industrial or ordinary policy of insurance on the life of a resident of this State issued by any life insurance company or fraternal benefit society operating in Maryland, when the policy has a cash, paid-up, or extended insurance or other equity at the time of lapse and when none of these equities is automatically granted by the policy without application by the insured, upon lapse of the policy, written notice shall be mailed to the last known address of the insured within not less than 30 days before the expiry of the period within which the insured may apply for the equity value. This notice shall state the nature of the equity to which the insured is entitled and the date before which application for the equity is required to be made.