§ 27-4.4-5 - Computation of present value. - Rhode Island Statutes

SECTION 27-4.4-5

   § 27-4.4-5  Computation of present value.– Any paid up annuity benefit available under a contract shall be such that itspresent value on the date annuity payments are to commence is at least equal tothe minimum nonforfeiture amount on that date. The present value shall becomputed using the mortality table, if any, and the interest rate specified inthe contract for determining the minimum paid up annuity benefits guaranteed inthe contract.