- A. An insurer or agent shall deliver a long-term care insurance buyer's guide to prospective applicants of long-term care coverage in a format developed by the National Association of Insurance Commissioners or in a format approved by the Commissioner.
- B. The insurer shall include in the buyer's guide information regarding the purchase of a long-term care insurance policy, including a reference of the right of the purchaser to return the policy for a refund during the first 30 days after the policy is delivered.
- C. In the case of solicitation by an agent, the agent shall deliver the buyer's guide before presenting an application or enrollment form to the prospective applicant.
- D. In the case of direct response solicitations, the insurer shall provide the buyer's guide to the applicant in conjunction with any application or enrollment form.
- E. Life insurance policies or riders containing accelerated death benefits for long-term care are not required to furnish the long-term care insurance buyer's guide required by §A of this regulation, but shall furnish the policy summary required under Insurance Article, §18-108, Annotated Code of Maryland.
Authority: Health-General Article, §19-705; Insurance Article, §§2-109, 14-124, Title 18, Subtitle 1, and Title 27; Annotated Code of Maryland
Effective date: September 1, 1994 (21:13 Md. R. 1156)
Chapter recodified from COMAR 09.30.88 to COMAR 31.14.01 effective September 7, 1998 (25:18 Md. R. 1439)
Chapter revised effective April 1, 2002 (29:6 Md. R. 570)
Chapter revised effective September 10, 2007 (34:18 Md. R. 1581)
Regulation .01 amended effective September 1, 2014 (41:17 Md. R. 972)
Regulation .13E amended effective February 27, 2017 (44:4 Md. R. 256)
Regulation .24H—J adopted effective February 27, 2017 (44:4 Md. R. 256)
Regulation .36 amended effective February 27, 2017 (44:4 Md. R. 256)