Any paid-up annuity, cash surrender or death benefits available at any time, other than on the contract anniversary under any contract with fixed scheduled considerations, shall be calculated with allowance for the lapse of time and the payment of any scheduled considerations beyond the beginning of the contract year in which cessation of payment of considerations under the contract occurs.
Cal. Ins. Code § 10168.8
Standard Nonforfeiture Law for Individual Deferred Annuities
Known as the Health Insurance Disclosure Act
The act spans §§ 10110–11549 (1,209 sections).
Added by Stats. 1979, Ch. 1093.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.