Ch. 300

LAWS OF MARYLAND

BY adding to

Article 48A - Insurance Code

Section 401A

Annotated Code of Maryland

(1986 Replacement Volume and 1987 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article 48A - Insurance Code

63.

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 accidental means;

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

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

(5)  BENEFITS THAT PROVIDE REIMBURSEMENT OR PAYMENT
FOR:

(I)  LONG-TERM HOME HEALTH CARE; AND

(II)  LONG-TERM CARE IN A NURSING HOME OR OTHER
RELATED INSTITUTION; AND

[(5)] (6) Optional modes of settlement of proceeds of
life insurance. Life insurance does not include workmen's
compensation insurance but does include burial insurance.

77.

In any determination of the financial condition of an
insurer, capital stock and liabilities to be charged against its
assets shall include:

(1) The amount of its capital stock outstanding, if
any;

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