WILLIAM DONALD SCHAEFER, Governor                      Ch. 14

435.

The group life insurance policy shall contain a provision
that if the group policy terminates or is amended so as to
terminate the insurance of any class of insured persons, every
person insured thereunder at the date of such termination whose
insurance terminates and who has been so insured for at least
five (5) years prior to such termination date shall be entitled
to have issued to him THAT PERSON by the insurer an individual
policy of life insurance, subject to the same conditions and
limitations as are provided by § 434, except that the group
policy may provide that the amount of such individual policy
shall not exceed the smaller of:

(1)  The amount of the person's life insurance
protection ceasing because of the termination or amendment of the
group policy, less the amount of any life insurance for which he
THAT PERSON is or becomes eligible under any group policy issued
or reinstated by the same or another insurer within thirty-one
(31) days after such termination, and

[(2) Two thousand dollars ($2,000)]

(2)  TEN THOUSAND DOLLARS ($10,000).

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1988.

Approved April 12, 1988.

CHAPTER 14

(Senate Bill 103)

AN ACT concerning

Group Life Insurance - Dependent Coverage

FOR the purpose of altering certain maximum amounts of insurance
under a group life insurance policy for the life of a spouse
or a minor child of an insured employee or member; and
generally relating to group life insurance.

BY repealing and reenacting, with amendments,

Article 48A - Insurance Code

Section 422A(l)(i)

Annotated Code of Maryland

(1986 Replacement Volume and 1987 Supplement)

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