Skip to main content
Find a Lawyer

Maryland Code, Insurance § 16-210

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) Each policy of life insurance shall contain a provision that, subject to subsection (b) of this section, a policy of industrial life insurance will be reinstated within 2 years and any other policy of life insurance will be reinstated within 3 years after the due date of the first premium in default on:

(1) written application for reinstatement;

(2) the production of evidence of insurability satisfactory to the insurer; and

(3) the payment of all premiums in arrears and the payment or reinstatement of any other indebtedness to the insurer on the policy, with interest on the premiums and other indebtedness at a specified rate not exceeding an effective rate of 6% per year compounded annually.

(b) The policy shall provide that reinstatement is not allowed if:

(1) the policy has been surrendered for its cash surrender value;

(2) the cash surrender value of the policy has been exhausted because of policy indebtedness; or

(3) any paid-up term insurance has expired.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Maryland Code, Insurance § 16-210 - last updated January 01, 2025 | https://codes.findlaw.com/md/insurance/md-code-insurance-sect-16-210/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard