Reduces the minimum nonforfeiture interest rate for annuities from one percent to one half of one percent for annuities during the surrender charge period, and from one percent to fifteen hundredths of one percent during any contract period with no surrender charge.
Reduces the minimum nonforfeiture interest rate for annuities from one percent to one half of one percent for annuities during the surrender charge period, and from one percent to fifteen hundredths of one percent during any contract period with no surrender charge.
Insurance – Annuities – Nonforfeiture – Interest Rate
Insurance – Annuities – Nonforfeiture – Interest Rate
Reduces the total amount that can be charged from one percent to one-third of one percent.
Reduces the total amount that can be charged from one percent to one-third of one percent.
Reduces the total amount that can be charged from one percent to one-third of one percent.
Reduces the total amount that can be charged from one percent to one-third of one percent.
Reduces the sales tax from seven percent (7%) to six and one-half percent (6 ½%).
Establishes requirements regarding processing of requests to surrender or annuitize matured annuities.