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2018 Indiana Code
TITLE 27. Insurance
ARTICLE 1. DEPARTMENT OF INSURANCE
CHAPTER 12.5. Nonforfeiture Provisions of Annuity Contracts
27-1-12.5-4. Paid-up benefits
Universal Citation: IN Code § 27-1-12.5-4 (2018)
IC 27-1-12.5-4 Paid-up benefits
Sec. 4. Any paid-up annuity benefit available under any annuity contract shall be such that its present value on the date annuity payments are to commence is at least equal to the minimum nonforfeiture amount on that date. Such present value shall be computed using the mortality table, if any, and the interest rate specified in the contract for determining the minimum paid-up annuity benefits guaranteed in the contract.
As added by Acts 1977, P.L.286, SEC.1.
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