Indiana § 27-1-12.8-28 Reserves according to commissioners annuity reserve method

Indiana Statutes

§ 27-1-12.8-28 — Reserves according to commissioners annuity reserve method

Indiana § 27-1-12.8-28

Title 27INSURANCE

Art. 1DEPARTMENT OF INSURANCE

Ch. 12.8Standard Valuation Law

This text of Indiana § 27-1-12.8-28 (Reserves according to commissioners annuity reserve method) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 27-1-12.8-28 (2026).

Text

(a)This section applies to an annuity or a pure endowment contract other than a group annuity or pure endowment contract that is purchased under a retirement plan or plan of deferred compensation that is established or maintained by:

(1)an employer (including a partnership or sole proprietorship);

(2)an employee organization; or

(3)both; other than a plan providing individual retirement accounts or individual retirement annuities under Section 408 of the Internal Revenue Code.

(b)Reserves according to the commissioners annuity reserve method for benefits under an annuity or a pure endowment contract, excluding disability and accidental death benefits in a contract, is the greatest of the respective excesses of:

(1)the present value (on the date of valuation) of the future guaranteed

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(a) This section applies to an annuity or a
pure endowment contract other than a group annuity or pure
endowment contract that is purchased under a retirement plan or plan
of deferred compensation that is established or maintained by:
(1) an employer (including a partnership or sole proprietorship);
(2) an employee organization; or
(3) both;
other than a plan providing individual retirement accounts or individual
retirement annuities under Section 408 of the Internal Revenue Code.
(b) Reserves according to the commissioners annuity reserve
method for benefits under an annuity or a pure endowment contract,
excluding disability and accidental death benefits in a contract, is the
greatest of the respective excesses of:
(1) the present value (on the date of valuation) of the future
guaranteed benefits, including guaranteed nonforfeiture benefits,
provided for by the contract at the end of each respective contract
year; over
(2) the present value (on the date of valuation) of any future
valuation considerations derived from future gross considerations
required by the terms of the contract, that become payable before
the end of the respective contract year.
The future guaranteed benefits must be determined by using any
mortality table, if applicable, and the interest rate or rates specified in
the contracts for determining guaranteed benefits. The valuation
considerations are the portion of the respective gross considerations
applied under the terms of a contract to determine the nonforfeiture
value.