§ 27-4.3-4 - Computation of paid-up nonforfeiture benefits. - Rhode Island Statutes

SECTION 27-4.3-4

   § 27-4.3-4  Computation of paid-upnonforfeiture benefits. – Any paid-up nonforfeiture benefit available under the policy in the event ofdefault in a premium payment due on any policy anniversary shall be such thatits present value as of the anniversary shall be at least equal to the cashsurrender value then provided for by the policy or, if none is provided for,that cash surrender value which would have been required by this chapter in theabsence of the condition that the premium shall have been paid for at least aspecified period.