California Insurance Code

§ 10509.972

INS § 10509.972 Effective Jan 1, 1997Div. 2 · Part 2 · Ch. 5.6

Statute text

(a)The Life Insurance Surrender Cost Index for level premium plans of insurance shall be calculated by applying the steps in the following paragraphs:

(1)Select either a 10-year or a 20-year period, commencing with the first year of the policy, over which the analysis is to be made.

(2)Determine the cash surrender value, and terminal dividend, if any, available at the end of the period selected.

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Legislative history

Added by Stats. 1996, Ch. 1106, Sec. 2. Effective January 1, 1997.