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.
Popular Insurance Terms
Signed receipt by policyowner acknowledging that policyowner is in possession of the policy. ...
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Relationship between expected incurred insurance-related costs (not including claims) and expected written premiums. ...
Dividends of a participating life insurance policy deemed by the Internal Revenue Service to be a return of a portion of premiums and thus not subject to taxation. ...
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Cash carried forward from the previous year, plus gains from operations for the current year, plus any capital gains. ...
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