Maryland Statutes
Subtitle 2 - Life Insurance Policy Provisions
Section 16-219 - Notice to Policyholders of Universal or Variable Life Insurance

(a)    (1)    If a policy of universal or variable life insurance contains a provision that allows a policyholder to reduce the face amount of the policy, the insurer shall provide a written notice to the policyholder.
        (2)    The notice shall state:
            (i)    that the policyholder’s policy allows for a reduction of the face amount of the policy as an option to retain coverage;
            (ii)    the amount to be paid to prevent the policy from lapse; and
            (iii)    the insurer’s customer service telephone number.
    (b)    The notice shall be sent to a policyholder’s last known address:
        (1)    at the beginning of the grace period under § 16–202 of this subtitle; and
        (2)    at least 30 days before termination of coverage.

Structure Maryland Statutes