40-4,105. Same; computation of present value. - Kansas Statutes

40-4,105

Chapter 40.--INSURANCE Article 4.--GENERAL PROVISIONS RELATING TO LIFE INSURANCE COMPANIES

      40-4,105.   Same; computation of presentvalue.Any paid-up annuity benefit available under an annuitycontract shall be suchthatits present value on the date annuity payments are to commence is at leastequal to the minimumnonforfeiture amount on that date. Present value shall be computed using themortality table, ifany, and the interest rates specified in the annuity contract for determiningthe minimum paid-upannuity benefits guaranteed in such annuity contract.

      History:   L. 2004, ch. 18, § 5; July 1.