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Texas Insurance Code - INS § 1152.204. Nonforfeiture Values

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) A modified guaranteed contract must contain nonforfeiture values that are based on a market-value adjustment formula if the contract is held for a period shorter than the period specified in the contract. The formula may or may not reflect the value of assets held in the separate account.

(b) A modified guaranteed contract must prominently state on its first page that the nonforfeiture values may increase or decrease based on the market-value formula specified in the contract.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 1152.204. Nonforfeiture Values - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-1152-204/

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