1006                           LAWS OF MARYLAND                      [CH. 553

4. KINDS OF INSURANCE; LIMITS OF RISK;
REINSURANCE

62. Definitions Not Mutually Exclusive.

Certain insurance coverages may come within the definitions of
two or more kinds of insurance as defined in this subtitle, and the
inclusion of such coverage within one definition shall not exclude it
as to any other kind of insurance within the definition of which
such coverage may likewise be reasonably included.

62.    RESERVED.

63.    "Life Insurance" Defined.

Life insurance is insurance on human lives, and includes also the
granting of:

(1)   Endowment benefits;

(2)   Additional benefits in the event of death by accident or acci-
dental means;

(3)   Additional disability benefits in the event of dismemberment
or loss of sight ;

(4)   Additional disability benefits operating to safeguard the con-
tract from lapse, or to provide a special surrender value, or special
benefit, or annuity, in the event of total and permanent disability;
and

(5)   Optional modes of settlement of proceeds of life insurance.

Life insurance does not include workmen's compensation insur-
ance but does include burial insurance.

64.    "Life Insurer" Defined.

Any person making any engagement for the payment of money
or other benefits in the event of death, either to the member, policy
or certificate holder, or by whatsoever name the same may be known,
or to their families or representatives, or entering into any contract
or agreement in which the chances or probabilities of the duration
of life, or the rate of mortality are in any way involved as an element
or condition of such contract or agreement, shall be deemed and
taken to be a life insurer within the meaning of this article, and shall
be subject to all the requirements of law applicable to such insurers.
This section shall not be construed so as to restrict the definition
of "insurer" under section 3.

65.    "Annuities" Defined.

"Annuities" means all agreements to make periodical payments
where the making or continuance of all or some of a series of such
payments, or the amount of any such payment, is dependent upon
the continuance of human life, except payments made under the
authority of section 63. The business of annuities shall be deemed
to include additional benefits operating to safeguard the contract
from lapse, or to provide a special surrender value, or special bene-
fit, or annuity, in the event of total and permanent disability of the
holder. An "annuity contract" is a contract providing for an "annu-
ity" as defined in this section.