Rhode Island § 27-4.4-6 § 27-4.4-6. Calculation of cash surrender value.

Rhode Island Statutes

§ 27-4.4-6 — § 27-4.4-6. Calculation of cash surrender value.

Rhode Island § 27-4.4-6

Title 27Insurance

Ch. 27-4.4The Standard Nonforfeiture Law for Individual Deferred Annuities

This text of Rhode Island § 27-4.4-6 (§ 27-4.4-6. Calculation of cash surrender value.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 27-4.4-6 (2026).

Text

§ 27-4.4-6. Calculation of cash surrender value.
For contracts that provide cash surrender benefits, the cash surrender benefits available
            prior to maturity shall not be less than the present value as of the date of surrender
            of that portion of the maturity value of the paid-up annuity benefit that would be
            provided under the contract at maturity arising from consideration paid prior to the
            time of cash surrender reduced by the amount appropriate to reflect any prior withdrawals
            from or partial surrenders of the contract, the present value being calculated on
            the basis of an interest rate not more than one percent (1%) higher than the interest
     

Free access — add to your briefcase to read the full text and ask questions with AI

§ 27-4.4-6. Calculation of cash surrender value.

For contracts that provide cash surrender benefits, the cash surrender benefits available prior to maturity shall not be less than the present value as of the date of surrender of that portion of the maturity value of the paid-up annuity benefit that would be provided under the contract at maturity arising from consideration paid prior to the time of cash surrender reduced by the amount appropriate to reflect any prior withdrawals from or partial surrenders of the contract, the present value being calculated on the basis of an interest rate not more than one percent (1%) higher than the interest rate specified in the contract for accumulating the net considerations to determine the maturity value, decreased by the amount of any indebtedness to the company on the contract, including interest due and accrued, and increased by any existing additional amounts credited by the company to the contract. In no event shall any cash surrender benefit be less than the minimum nonforfeiture amount at that time. The death benefit under the contracts shall be at least equal to the cash surrender benefit.