2406

LAWS OF MARYLAND

Ch. 610

(1)  Individual policies of life insurance issued
to debtors on the term plan.

(2)  Individual policies of health insurance to
insure debtors on a term plan or disability benefit
provisions in individual policies of credit life insurance.

(3)  Group policies of life insurance issued for
delivery to creditors providing insurance upon the lives of
debtors on the term plan.

(4)  Group policies of health insurance issued
for delivery to creditors on a term plan insuring debtors or
disability benefit provisions in group credit life insurance
policies to provide such coverage.

(5)  INDIVIDUAL POLICIES OF INVOLUNTARY
UNEMPLOYMENT BENEFIT INSURANCE ISSUED TO THE DEBTORS ON A
TERM PLAN.

(6)  GROUP POLICIES OF INVOLUNTARY UNEMPLOYMENT
BENEFIT INSURANCE ISSUED FOR DELIVERY TO CREDITORS ON A TERM
PLAN INSURING DEBTORS.

436F.

The term of any credit life insurance, [or] credit
health insurance, OR INVOLUNTARY UNEMPLOYMENT BENEFIT
INSURANCE subject to acceptance by the insurer, shall
commence on the date the debtor becomes obligated to the
creditor, except that, if a group policy provides coverage
with respect to existing obligations, the insurance on a
debtor with respect to the indebtedness shall commence on

the effective date of the policy. If evidence of

insurability is required and such evidence is furnished more
than thirty (30) days after the date the debtor becomes
obligated to the creditor, the term of the insurance may
commence on the date on which the insurance company
determines the evidence to be satisfactory, and in such
event there shall be an appropriate refund or adjustment of
any charge to the debtor for insurance. The term of the
insurance shall not extend more than fifteen (15) days
beyond the scheduled maturity date of the indebtedness
except when extended without additional cost to the debtor.
If the indebtedness is discharged because of renewal or
refinancing prior to the scheduled maturity date, the
insurance in force shall be terminated before any new
insurance may be issued in connection with the renewed or
refinanced indebtedness. In all cases of termination prior
to scheduled maturity, a refund shall be paid or credited as
provided in § 436-I of this article.

436G.

(a) All credit life insurance, [and] credit health
insurance, AND INVOLUNTARY UNEMPLOYMENT BENEFIT INSURANCE