There Is a Newer Version
of
this Section
2021 Vermont Statutes
Title 8 - Banking and Insurance
Chapter 103 - Life Insurance Policies and Annuity Contracts
§ 3764. Computation of paid-up nonforfeiture benefits
Universal Citation:
8 VT Stats § 3764 (2021)
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.
§ 3764. Computation of paid-up nonforfeiture benefits
A paid-up nonforfeiture benefit available under a policy in the event of default in a premium payment due on any policy anniversary shall be such that its present value as of the anniversary shall be at least equal to the cash surrender value then provided for by the policy or, if none is provided for, that cash surrender value that would have been required under this subchapter in the absence of the condition that premiums shall have been paid for at least a specified period. (Added 2015, No. 63, § 2, eff. June 17, 2015.)
Disclaimer: These codes may not be the most recent version. Vermont 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.
