§ 38.2-3222. Computation of present value
Any paid-up annuity benefit available under a contract shall be such that its present value on the date annuity payments are to commence at least equals the minimum nonforfeiture amount on that date. The present value shall be computed using the mortality table, if any, and the interest rate or rates specified in the contract for determining the minimum paid-up annuity benefits guaranteed in the contract.
(1979, c. 437, § 38.1-470.1; 1986, c. 562; 2004, c. 313.)
Sections: Previous 38.2-3215 38.2-3216 38.2-3217 38.2-3218 38.2-3219 38.2-3220 38.2-3221 38.2-3222 38.2-3223 38.2-3224 38.2-3225 38.2-3226 38.2-3227 38.2-3228 38.2-3229 NextLast modified: April 3, 2009