Md. Code Ann., Ins. § 16-409
Riders or supplemental contract provisions relating to long-term care
Effective Jun 1, 2009Added by Acts 2009, c. 597, § 1, eff. June 1, 2009; Acts 2009, c. 598, § 1, eff. June 1, 2009.State of Maryland
- (1) instead of or in addition to the annuity benefits payable under the contract; or
- (2) instead of all or part of the cash surrender or other nonforfeiture value of the contract.
An annuity contract may include a rider or supplemental contract provision that offers a contract holder reimbursement or payment for long-term home health care or long-term care in a nursing home or other related institution:
Added by Acts 2009, c. 597, § 1, eff. June 1, 2009; Acts 2009, c. 598, § 1, eff. June 1, 2009.