Tennessee § 56-36-111 Minimum forfeiture benefits

Tennessee Statutes

§ 56-36-111 — Minimum forfeiture benefits

Tennessee § 56-36-111

Title56

This text of Tennessee § 56-36-111 (Minimum forfeiture benefits) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 56-36-111 (2026).

Text

For any contract that provides, within the same contract by rider or supplemental contract provisions, both annuity benefits and life insurance benefits that are in excess of the greater of cash surrender benefits or a return of the gross considerations with interest, the minimum nonforfeiture benefits shall be equal to the sum of the minimum nonforfeiture benefits for the annuity portion and the minimum nonforfeiture benefits, if any, for the life insurance portion computed as if each portion were a separate contract. Notwithstanding §§ 56-36-105 - 56-36-108 and 56-36-110, additional benefits payable:

(1)In the event of total and permanent disability;

(2)As reversionary annuity or deferred reversionary annuity benefits; or (3) As other policy benefits additional to life insurance, endow

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For any contract that provides, within the same contract by rider or supplemental contract provisions, both annuity benefits and life insurance benefits that are in excess of the greater of cash surrender benefits or a return of the gross considerations with interest, the minimum nonforfeiture benefits shall be equal to the sum of the minimum nonforfeiture benefits for the annuity portion and the minimum nonforfeiture benefits, if any, for the life insurance portion computed as if each portion were a separate contract. Notwithstanding §§ 56-36-105 - 56-36-108 and 56-36-110, additional benefits payable: (1) In the event of total and permanent disability; (2) As reversionary annuity or deferred reversionary annuity benefits; or (3) As other policy benefits additional to life insurance, endowment and annuity benefits, and considerations for the additional benefits; shall be disregarded in ascertaining the minimum nonforfeiture amount, paid-up annuity, cash surrender and death benefits that may be required by this chapter. The inclusion of the additional benefits shall not be required in any paid-up benefits, unless the additional benefits separately would require minimum nonforfeiture amounts, paid-up annuity cash surrender and death benefits.