Go to Other Versions of The Colorado Rev. Stat.
  1. 2024 Colorado Rev. Stat.
  2. 2023 Colorado Rev. Stat.
  3. 2022 Colorado Rev. Stat.
  4. 2020 Colorado Rev. Stat. (here)
  5. View All Versions
View Our Newest Version Here

2020 Colorado Revised Statutes
Title 10 - Insurance
Article 7. Life Insurance
Section 10-7-310.5. Individual annuity and pure endowment reserves.

Universal Citation:
CO Rev Stat § 10-7-310.5 (2020)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
Previous Next

(1) This section applies to all annuity and pure endowment contracts other than group annuity and pure endowment contracts purchased under a retirement plan or plan of deferred compensation, established or maintained by an employer (including a partnership or sole proprietorship) or by an employee organization, or by both, other than a plan providing individual retirement accounts or individual retirement annuities under the federal "Internal Revenue Code of 1986", 26 U.S.C. sec. 408, as now or hereafter amended.

(2) Reserves according to the commissioners annuity reserve method for benefits under annuity or pure endowment contracts, excluding any disability and accidental death benefits in such contracts, shall be the greatest of the respective excesses of the present values, at the date of valuation, of the future guaranteed benefits, including guaranteed nonforfeiture benefits, provided for by such contracts at the end of each respective contract year, over the present value, at the date of valuation, of any future valuation considerations derived from future gross considerations, required by the terms of such contracts, that become payable prior to the end of such respective contract year. The future guaranteed benefits shall be determined by using the mortality table, if any, and the interest rate, or rates, specified in such contracts for determining guaranteed benefits. The valuation considerations are the portions of the respective gross considerations applied under the terms of such contracts to determine nonforfeiture values.

Source: L. 77: Entire section added, p. 526, § 6, effective July 1. L. 2000: (1) amended, p. 1840, § 10, effective August 2. L. 2015: (1) amended, (HB 15-1048), ch. 63, p. 163, § 7, effective August 5.

Previous Next
Disclaimer: These codes may not be the most recent version. Colorado may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.