Policies and contracts issued on or after operative date of Standard Nonforfeiture Law -- Minimum reserves for life insurance policies

1. Law
2. Maryland Code
3. Insurance
4. Assets, Liabilities, Reserves, and Investments of Insurers
5. Standard Valuation Law
6. Policies and contracts issued on or after operative date of Standard Nonforfeiture Law -- Minimum reserves for life insurance policies

    (a)    This section does not apply to reserves for disability and accidental death benefits and benefits for long-term home health care and long-term care in a nursing home or other related institution included in a life insurance policy.

    (b)    An insurer’s aggregate reserves for all life insurance policies may not be less than the aggregate reserves calculated in accordance with:

        (1)    the methods set forth in §§ 5-307, 5-308, 5-311, and 5-312 of this subtitle; and

        (2)    the mortality tables and rates of interest used in calculating nonforfeiture benefits for those policies.

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