Interest on death benefits are not required to be paid by an insurance company if proceeds are paid within how many days after the death of the insured?

In Maryland, the law stipulates that an insurance company is required to pay interest on death benefits unless the benefits are paid within a specific time frame. If the proceeds are paid within 30 days after the death of the insured, there is no requirement to pay interest on those benefits. This provision is designed to encourage timely payment of death benefits and helps streamline the process for beneficiaries.

Thus, the correct answer reflects the legislative intent to promote prompt payments to beneficiaries by exempting interest for benefits settled within that 30-day period. If the payment extends beyond this timeframe, the insurer would then be required to pay interest on the death benefits. Understanding this time limitation is important for both consumers and professionals dealing with insurance matters in Maryland.