(a) (1) A carrier shall provide to each applicant an outline of coverage and buyer’s guide.
(2) The carrier shall deliver the outline of coverage and buyer’s guide:
(i) in the case of solicitation by the carrier or insurance producer of the carrier, before the presentation of an application or enrollment form; and
(ii) in the case of direct response solicitation, with the application or enrollment form.
(b) The outline of coverage shall include:
(1) a description of the principal benefits and coverage provided in the policy or contract;
(2) a statement of the principal exclusions, reductions, and limitations in the policy or contract;
(3) a statement of the renewal provisions, including any reservation in the policy or contract of a right to change the schedule of premiums;
(4) a statement that the outline of coverage is a summary of the policy or contract issued or applied for and the policy or contract should be consulted to determine the governing contractual provisions; and
(5) any expected premium increases or additional premiums to pay for automatic or optional benefit increases, including a reasonable hypothetical or graphic demonstration of the potential premiums that the applicant will need to pay at age 75 for benefit increases.
(c) The buyer’s guide shall include information about buying a policy of long–term care insurance, including a reference to the right of the buyer to cancel a policy during the first 30 days after the policy is delivered.
(d) A carrier shall provide an applicant with a graphic comparison, over a period of at least 20 years, of the benefit levels of a policy that increases benefits over the policy or certificate period compared to the benefit levels of a policy that does not increase benefits.
Structure Maryland Statutes
Title 18 - Long-Term Care Insurance
Section 18-103 - Compliance With Title Required; Advertising; Marketing
Section 18-104 - Questions in Applications
Section 18-105 - Applicants at Least 80 Years Old
Section 18-106 - Outline of Coverage and Buyer's Guide
Section 18-107 - Contents of Certificates
Section 18-108 - Summaries of Long-Term Care Benefits in Life Insurance Policies
Section 18-109 - Policy Limitations and Exclusions -- in General
Section 18-110 - Policy Limitations and Exclusions -- Home Health Care Services
Section 18-111 - Policy Limitations and Exclusions -- Alzheimer's Disease
Section 18-112 - Continuation of Coverage or Conversion of Policies
Section 18-113 - Replacement Policies
Section 18-114 - Inflation Protection Option
Section 18-115 - Evaluating Expected and Actual Loss Ratios
Section 18-116 - Increases to Premiums
Section 18-116.1 - Contingent Benefit Upon Lapse
Section 18-117 - Reports About Benefits Funded by Acceleration of Death Benefits
Section 18-118 - Cancellation, Refusal to Renew, or Termination of Policies