Agreements Providing for Annuity Benefits on a Variable Basis — Statements Required

Checkout our iOS App for a better way to browser and research.

If the agreement provides for payment of benefits in variable amounts, it shall contain a statement of the essential features of the procedure to be followed by the company in determining the dollar amount of the variable benefits. The agreement, and any certificate in evidence of variable benefits issued under the agreement, shall state that the dollar amount may decrease or increase and shall contain on its first page a statement that the benefits under the agreement are on a variable basis.


Download our app to see the most-to-date content.