1. (a) If long-term care benefits are part of a life insurance policy or rider, the carrier shall provide a policy summary at the time of policy delivery.

2. (b) The policy summary required to be delivered under subsection (a) of this section shall include:

   1. (1) information required to be included in an outline of coverage under § 18-106 of this title;
   2. (2) an explanation of how the long-term care benefits interact with other components of the life insurance policy, including deductions from death benefits;
   3. (3) an illustration of the amount of benefits, length of benefit, and guaranteed lifetime benefits if any, for each covered individual;
   4. (4) any exclusions, reductions, or limitations on benefits of long-term care; and

   5. (5) if applicable to the policy type:

      1. (i) a disclosure of the effects of exercising other rights under the policy;
      2. (ii) a disclosure of guarantees related to long-term care costs of insurance charges; and
      3. (iii) current and projected maximum lifetime benefits.

Added by Acts 1997, c. 35, § 2, eff. Oct. 1, 1997.

Formerly Art. 48A, §§ 647, 647A.