PARRIS N. GLENDENING, Governor                                   Ch. 36

Defined terms: "Insurance" § 1-101
"Policy" § 1-101

(W) INSURER.

"INSURER" INCLUDES EACH PERSON ENGAGED AS INDEMNITOR, SURETY, OR
CONTRACTOR IN THE BUSINESS OF ENTERING INTO INSURANCE CONTRACTS.

REVISOR'S NOTE: This subsection is new language derived without substantive
change from former Art. 48A, § 3.

Defined terms: "Insurance contract" § 1-101
"Person" § 1-101

(X) LIFE INSURANCE.

(1)      "LIFE INSURANCE" MEANS INSURANCE FOR WHICH THE
PROBABILITIES OF THE DURATION OF HUMAN LIFE OR THE RATE OF MORTALITY
ARE AN ELEMENT OR CONDITION OF THE INSURANCE.

(2)      "LIFE INSURANCE" INCLUDES THE GRANTING OF:

(I)       ENDOWMENT BENEFITS;

(II)     ADDITIONAL BENEFITS IN THE EVENT OF DEATH BY
ACCIDENTAL MEANS;

(III)   ADDITIONAL DISABILITY BENEFITS IN THE EVENT OF
DISMEMBERMENT OR LOSS OF SIGHT;

(IV)    ADDITIONAL DISABILITY BENEFITS THAT:

1.        SAFEGUARD THE INSURANCE CONTRACT FROM LAPSE;
OR

2.        PROVIDE A SPECIAL SURRENDER VALUE, SPECIAL
BENEFIT, OR ANNUITY, IN THE EVENT OF TOTAL AND PERMANENT DISABILITY;

(V)     BENEFITS THAT PROVIDE PAYMENT OR REIMBURSEMENT FOR:

1.        LONG-TERM HOME HEALTH CARE; OR

2.        LONG-TERM CARE IN A NURSING HOME OR OTHER
RELATED INSTITUTION;

(VI)    BENEFITS FOR BURIAL; AND

(VII)  OPTIONAL MODES OF SETTLEMENT OF PROCEEDS OF LIFE
INSURANCE.

(3)      LIFE INSURANCE DOES NOT INCLUDE WORKERS' COMPENSATION
INSURANCE.

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