California Law (Last Updated: March 4, 2014) |
Insurance Code - INS |
Division 2. CLASSES OF INSURANCE |
Part 2. LIFE AND DISABILITY INSURANCE |
Chapter 1. The Contract |
ARTICLE 3b. Standard Nonforfeiture Law for Individual Deferred Annuities |
Section 10168.7.
Latest version.
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Any contract which does not provide cash surrender benefits or does not provide death benefits at least equal to the minimum nonforfeiture amount prior to the commencement of any annuity payments shall include a statement in a prominent place in the contract that such benefits are not provided.
(Added by Stats. 1979, Ch. 1093.)