Any paid-up annuity benefit available under a contract shall be such that its present value on the date when the annuity payments are to commence is at least equal to the minimum nonforfeiture amount on that date. Such present value shall be computed by using the mortality table, if any, and the interest rate specified in the contract for determining the minimum paid-up annuity benefits guaranteed in the contract.
NRS 688A.3631
Value of paid-up annuity benefits when benefit payments to commence
Known as the Standard Nonforfeiture Law
The act spans §§ 688–688 (62 sections).
(Added to NRS by 1977, 689)
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.