Ch. 351                                     1993 LAWS OF MARYLAND

(2) AN EXPLANATION OF HOW THE LONG-TERM CARE BENEFIT
INTERACTS WITH OTHER COMPONENTS OF THE LIFE INSURANCE POLICY,
INCLUDING DEDUCTIONS FROM DEATH BENEFITS;

(3) AN ILLUSTRATION OF THE AMOUNT OF BENEFITS, THE LENGTH OF
BENEFIT, AND THE GUARANTEED LIFETIME BENEFITS IF ANY, FOR EACH COVERED
PERSON;

       (4) ANY EXCLUSIONS OR REDUCTION OR LIMITATIONS ON BENEFITS OF
LONG-TERM CARE; AND

(5) IF APPLICABLE TO THE POLICY TYPE:

(I) A DISCLOSURE OF THE EFFECTS OF EXERCISING OTHER
RIGHTS UNDER THE POLICY;

                                 (II) A DISCLOSURE OF GUARANTEES RELATED TO LONG-TERM
CARE COSTS OF INSURANCE CHARGES; AND

(III) CURRENT AND PROJECTED MAXIMUM LIFETIME BENEFITS.

(C) WHENEVER A LONG-TERM CARE BENEFIT, FUNDED THROUGH A LIFE
INSURANCE VEHICLE BY THE ACCELERATION OF THE DEATH BENEFIT, IS IN
BENEFIT PAYMENT STATUS, A MONTHLY REPORT SHALL BE PROVIDED TO THE
POLICYHOLDER. A RETORT SHALL INCLUDE:

(1) ANY LONG-TERM CARE BENEFITS PAID OUT DURING THE MONTH;

(2)      AN EXPLANATION OF ANY CHANGES IN THE POLICY, SUCH AS
DEATH BENEFITS OR CASH VALUES, DUE TO LONG-TERM CARE BENEFITS BEING

PAID OUT; AND

(3)      THE AMOUNT OF LONG-TERM CARE BENEFITS EXISTING OR
REMAINING.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 1993.

Approved May 11, 1993.

CHAPTER 351
(House Bill 1052)

AN ACT concerning

Health and Business Occupations and Professions - Notice to Department of

Assessments and Taxation

FOR the purpose of requiring the Department of Licensing and Regulation, certain
health occupation boards, and the State Insurance Commissioner of Maryland to
provide certain information about certain licensees, certificate holders, and permit

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