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New Jersey Statutes, Title: 17B, INSURANCE
Chapter 25: "Industrial life insurance" ; definition
Section: 17B:25-25: Paid-up annuity benefit.
5. Any paid-up annuity benefit available under a contract shall be such that its present value on the date annuity payments are to commence is at least equal to the minimum nonforfeiture amount on that date. Present value shall be computed using the mortality table, if any, and the interest rates specified in the contract for determining the minimum paid-up annuity benefits guaranteed in the contract.
L.2005,c.194,s.5.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 17b:25-25 (if available):
Court decisions that cite this statute:
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