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Ch. 36
1995 LAWS OF MARYLAND
(II) IF THE POLICY WAS ISSUED ANY TIME FROM JANUARY 1, 1961
TO DECEMBER 31, 1965, BOTH INCLUSIVE:
1. A TABLE SPECIFIED BY ITEM (I) OF THIS PARAGRAPH; OR
2. AT THE OPTION OF THE INSURER, THE INTERCOMPANY
DOUBLE INDEMNITY MORTALITY TABLE; AND
(III) IF THE POLICY WAS ISSUED ON OR AFTER JANUARY 1, 1966:
1. THE 1959 ACCIDENTAL DEATH BENEFITS TABLE; OR
2. AN ACCIDENTAL DEATH BENEFITS TABLE ADOPTED
AFTER 1980 BY THE NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS AND
APPROVED BY REGULATION OF THE COMMISSIONER FOR USE IN DETERMINING THE
MINIMUM STANDARD OF VALUATION FOR THE POLICY.
(2) THE TABLE USED UNDER THIS SUBSECTION SHALL BE COMBINED
WITH A MORTALITY TABLE ALLOWED FOR CALCULATING THE RESERVES FOR LIFE
INSURANCE POLICIES.
(H) SAME — MISCELLANEOUS.
FOR GROUP LIFE INSURANCE, LIFE INSURANCE ISSUED ON THE SUBSTANDARD
BASIS, LONG-TERM HOME HEALTH CARE AND LONG-TERM CARE IN A NURSING
HOME OR OTHER RELATED INSTITUTION, OR ANY OTHER SPECIAL BENEFIT, THE
APPLICABLE TABLE FOR THE MINIMUM STANDARD FOR THE VALUATION OF THE
POLICY OR BENEFIT IS ANY TABLE APPROVED BY THE COMMISSIONER FOR USE IN
DETERMINING THE MINIMUM STANDARD OF VALUATION OF THE POLICY.
REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48A, § 83(3)(a-1).
In subsection (b)(3) of this section, for policies issued on or after the operative
date of § 15-309 of this article (former Art. 48A, § 414(k-1)), the tabulation of
former Art. 48A, § 83(3)(a-1)(i) is revised to reflect that unless a new
ordinary mortality table is adopted after 1980 by the National Association of
Insurance Commissioners and is approved by a regulation of the
Commissioner, the applicable table is the Commissioners 1980 Standard
Ordinary Mortality Table or, at the insurer's election for any one or more
specified plans of life insurance, the use of the Commissioners 1980 Standard
Ordinary Mortality Table with Ten-Year Select Mortality Factors.
The Insurance Article Review Committee notes, for the consideration of the
General Assembly, that subsections (b)(3), (c)(2), (f)(1)(i), and (g)(1)(i) of
this section carry forward an ambiguity from former Art. 48A, § 83(3)(a-1)(i),
(ii), (v), and (vi) regarding whether the use of a new mortality table adopted
after 1980 by the National Association of Insurance Commissioners and
approved by a regulation of the Commissioner would be mandatory or at the
option of the insurer. Similar ambiguities occur in § 5-305(c), (d). and (f) of
this subtitle (revising former Art. 48A, § 83(3)(a-2)(ii), (iii), and (v)).
Regulations adopted under former Art. 48A, § 83(3)(a-2)(ii), (iii), and (v),
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