PocketLaw | Vermont Statutes | Life Insurance Policies And Annuity

Life Insurance Policies And Annuity Contracts

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Statutory purposes

Discriminations prohibited

Other prohibited practices

Penalties

Trust agreements

Spendthrift provisions; creditors of beneficiary

Exemption of proceeds-Life insurance

Disability benefits

Group insurance

Annuity contracts-Assignability of rights

Power to contract-Purchase of annuities or insurance by minors

Charitable life gifts

Payment discharges insurer

Assignment of insurance policies or annuity contracts

Life policy as separate property of married woman

Forms for proof of loss to be furnished

Claims administration not waiver

Annuity contracts

Annuity considerations

Charitable gift annuities

Valuation of bonds, etc.

Standard provisions required

'Industrial life insurance' defined

Excluded or restricted coverage in life insurance policies

Incontestability and limitation of liability after reinstatement

Application as evidence

Representations in applications

Sections
3741-3749 Repealed

2015, No. 63, § 6, effective June 17, 2015.

Standard nonforfeiture law for individual deferred annuities

Title

Definitions

Nonforfeiture benefits

Computation of cash surrender value

Computation of paid-up nonforfeiture benefits

Calculation of adjusted premiums

Calculation of adjusted premiums; ordinary policies

Calculation of adjusted premiums; industrial policies

Calculations of adjusted premiums by the nonforfeiture net level premium method

Nonforfeiture benefits for indeterminate premium plans

Proration of values; net value of paid-up additions

Consistency of progression of cash surrender values with increasing policy duration

Exceptions

Effective date; applicability

Sections
3781-3789 Repealed

2015, No. 63, § 6, effective June 17, 2015.

Title

Definitions

Reserve valuation

Actuarial opinion of reserves

Computation of minimum standard

Computation of minimum standard for annuities

Computation of minimum standard by calendar year of issue

Reserve valuation method-life insurance and endowment benefits

Reserve valuation method-annuity and pure endowment benefits

Minimum reserves

Optional reserve calculation

Reserve calculation-valuation net premium exceeding the gross premium charged

Reserve calculation-indeterminate premium plans

Minimum standard for accident and health insurance contracts

Valuation manual for policies issued on or after the operative date of the valuation manual

Requirements of a principle-based valuation

Experience reporting for policies in force on or after the operative date of the valuation manual

Confidentiality

Single state exemption

Scope of subchapter-Short title

Group contracts must meet group requirements

Employee groups

Labor union groups

Debtor groups

Licensed lenders; charges for insurance

Public employee groups

Trustee groups

Association of employers groups

Credit union groups

Associations and discretionary groups

Dependents' coverage

Provisions required in group contracts

Grace period

Incontestability

Application; statements deemed representations

Insurability

Misstatement of age

Payment of benefits

Certificate

Conversion on termination of eligibility

Conversion on termination of policy

Death pending conversion

Notice as to conversion right

Readjustment of premium

Application of dividends, rate reductions

Sections
3826-3834 Repealed

2009, No. 53, § 5, eff. January 1, 2010.

Definitions

License and bond requirements

License revocation and denial

Approval of life settlement contracts, disclosure statements, and related forms

Reporting requirements and privacy

Investigations and examinations

Disclosure to policy owner

Sections
3841-3854 Repealed

1971, No. 106, § 6, eff. April 22, 1971.

Disclosure to insurer

General rules

Prohibited practices

Prohibited practices and conflicts of interest

Advertising for life settlements

Fraud prevention and control

Civil remedies, penalties, and enforcement

Adoption of rules

Establishment of accounts

Required contents of policy

Licensing

Powers of Commissioner

Grace; reinstatement; nonforfeiture