2018 Wyoming Statutes
TITLE 26 - INSURANCE CODE
CHAPTER 16 - LIFE INSURANCE AND ANNUITY CONTRACTS
ARTICLE 2 - STANDARD NONFORFEITURE LAW
SECTION 26-16-206 - Varying amount of insurance based on policy duration; uniform equivalent.
26-16-206. Varying amount of insurance based on policy duration; uniform equivalent.
(a) In the case of a policy providing an amount of insurance varying with duration of the policy, the equivalent uniform amount thereof for the purpose of W.S. 26-16-205 is the uniform amount of insurance provided by an otherwise similar policy, containing the same endowment benefits, if any, issued at the same age and for the same term, the amount of which does not vary with duration and the benefits under which have the same present value at the date of issue as the benefits under the policy.
(b) In the case of a policy providing a varying amount of insurance issued on the life of a child under age ten (10) the equivalent uniform amount may be computed as though the amount of insurance provided by the policy prior to the attainment of age ten (10) were the amount provided by the policy at age ten (10).
