Naic: model annuity and deposit fund disclosure regulation national association of insurance commissioners

Model state law of the NAIC that requires that applicant be furnished a Buyer's Guide to Annuities and a contract summary. The Buyer's Guide must contain information concerning:  the various kinds of annuity contracts available to fit the prospec­tive annuitant's requirements;  the characteristics of annuities in general; and  benefits of the annuity contract. The contract summary must contain:  the cash values at the end of each year for the initial ten-year contract period;  dividends (if a participating contract) each year for the initial ten-year contract period;  death benefit each year for the initial ten-year contract period;  yield on the gross premiums paid at the end of the initial ten-year contract period; and  date income payments are scheduled to commence to the annuitant.

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