N.J.S.A. 17B:25-25

Paid-up annuity benefit.

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.

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This is the verbatim text of N.J.S.A. 17B:25-25, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.