Statute · California Insurance Code

Cal. Ins. Code § 10168.3 — Standard Nonforfeiture Law for Individual Deferred Annuities

Cal. Ins. Code § 10168.3

Type: Statute
Source: California Insurance Code
Jurisdiction: California
Current through: Nov 2, 2026 (California Legislative Counsel)

Any paid-up annuity benefit available under a contract shall be such that its present value on the date annuity payments are to commence is at least equal to the minimum nonforfeiture amount on that date. Such present value shall be computed using the mortality table, if any, and the interest…

Citator

Cal. Ins. Code § 10168.3 — Standard Nonforfeiture Law for Individual Deferred Annuities is in force in the current edition of the Code, and nothing recorded condemns it.

Any paid-up annuity benefit available under a contract shall be such that its present value on the date annuity payments are to commence is at least equal to the minimum nonforfeiture amount on that date. Such present value shall be computed using the mortality table, if any, and the interest rate specified in the contract for determining the minimum paid-up annuity benefits guaranteed in the contract.