North Dakota § 26.1-33-20 Computation of paid-up nonforfeiture benefits

North Dakota Statutes

§ 26.1-33-20 — Computation of paid-up nonforfeiture benefits

North Dakota·Title 26.1 Insurance·Ch. 26.1-33 Life Insurance

Any paid-up nonforfeiture benefit available under the policy in the event of default in a
premium payment due on any policy anniversary must be such that its present value as of the
anniversary must be at least equal to the cash surrender value then provided for by the policy
or, if none is provided for, that cash surrender value which would have been required by
sections 26.1-33-18 through 26.1-33-28 in the absence of the condition that premiums must
have been paid for at least a specified period.

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Any paid-up nonforfeiture benefit available under the policy in the event of default in a
premium payment due on any policy anniversary must be such that its present value as of the
anniversary must be at least equal to the cash surrender value then provided for by the policy
or, if none is provided for, that cash surrender value which would have been required by
sections 26.1-33-18 through 26.1-33-28 in the absence of the condition that premiums must
have been paid for at least a specified period.

North Dakota § 26.1-33-20 (Computation of paid-up nonforfeiture benefits) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.