Indiana § 27-1-12.5-7 Maturity date determination

Indiana Statutes

§ 27-1-12.5-7 — Maturity date determination

Indiana § 27-1-12.5-7

Title 27INSURANCE

Art. 1DEPARTMENT OF INSURANCE

Ch. 12.5Nonforfeiture Provisions of Annuity Contracts

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Bluebook

Ind. Code § 27-1-12.5-7 (2026).

Text

For the purpose of determining the benefits
calculated under sections 5 and 6, in the case of an annuity contract
under which an election may be made to have annuity payments
commence at optional maturity dates, the maturity date shall be deemed
to be the latest date for which election shall be permitted by the
contract, but shall not be deemed to be later than the anniversary of the
contract next following the annuitant's seventieth birthday or the tenth
anniversary of the contract, whichever is later.
As added by Acts 1977, P.L.286, SEC.1.

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For the purpose of determining the benefits
calculated under sections 5 and 6, in the case of an annuity contract
under which an election may be made to have annuity payments
commence at optional maturity dates, the maturity date shall be deemed
to be the latest date for which election shall be permitted by the
contract, but shall not be deemed to be later than the anniversary of the
contract next following the annuitant's seventieth birthday or the tenth
anniversary of the contract, whichever is later.
As added by Acts 1977, P.L.286, SEC.1.