Guaranteed annuity contract
[DOC File]Title 20--DEPARTMENT OF
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g.Guaranteed Value: The guaranteed value is the benefit base or a substitute for the account value (if greater than the account value) in the calculation of living benefits or death benefits. The methodology for setting the guaranteed value is defined in the variable annuity contract.
[DOC File]Contact Person: - Illinois
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The base amount of guaranteed contract liabilities is the sum of the expected guaranteed contract benefits discounted at a rate not greater than 104.5% of the spot rate (using the mortality tables required by Section 4217 for annuity and life insurance benefit cash flows).
[DOC File]Synthetic Guaranteed Investment Contracts 6/2013
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A flexible payment deferred annuity is defined as a contract which provides for the payment of a guaranteed or variable annuity, or both, with the amount of the annuity determined not at date of issue but at the annuity commencement date and by …
[DOC File]Guaranteed Interest Contracts Product Outline (10/11/2013)
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There must be a statement regarding the mortality table, if any, and interest rates used in calculating any minimum paid-up annuity, cash surrender or death benefits guaranteed under the contract. Sufficient information must be included to determine the amount of the benefits Appropriate Descriptive Title 215 ILCS 5/143(1) There must be an ...
Annuity Contract Definition
For example, certificates would be required where the contract provides for annuity benefits that are not guaranteed by the insurer and are paid by the insurer at the direction of the contractholder. If non-guaranteed annuity benefits are provided, the retired life certificate must clearly disclose any limitations on the insurer’s guarantees ...
[DOCX File]VM-21: Requirements for Principle-Based Reserves for ...
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B. “Contract owner” means the owner named in the annuity contract or certificate holder in the case of a group annuity contract. C. “Determinable elements” means elements that are derived from processes or methods that are guaranteed at issue and not subject to company discretion, but where the values or amounts cannot be determined ...
[DOC File]annuity disclosure - Maine
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A modified guaranteed annuity is defined as a deferred annuity, the values of which are guaranteed if held for specified periods, and the underlying assets of which are held in a separate account. The contract must contain nonforfeiture values that are based upon a market-value adjustment formula if held for periods shorter than the full ...
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