Montana Code Annotated 2019

TITLE 33. INSURANCE AND INSURANCE COMPANIES

CHAPTER 20. LIFE INSURANCE

Part 5. Standard Nonforfeiture Law Individual Deferred Annuities

Present Value To Equal Minimum Nonforfeiture Amount

33-20-506. Present value to equal minimum nonforfeiture amount. 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. Such present value shall be computed using the mortality table, if any, and the interest rate specified in the contract for determining the minimum paid-up annuity benefits guaranteed in the contract.

History: En. Sec. 13, Ch. 346, L. 1979.