Maryland Statutes
Subtitle 3 - Group Life Insurance Policy Provisions
Section 17-301 - Standard Provisions Required; Exceptions

(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.

Structure Maryland Statutes