Title 24-A, Title 24-A

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 bey…

For any contract which provides, within the same contract by rider or supplemental contract provision, both annuity benefits and life insurance benefits that are in excess of the greater of cash surrender benefits or a return of the gross considerations with interest, the minimum…

For the purposes of sections 2553 and 2554 the "published monthly average" means: [PL 1981, c. 188, §4 (NEW).] 1. Moody's Corporate Bond Yield Average-Monthly Average Corporates as published by Moody's Investors Services, Inc. or any successor thereto; or 2. In the event that Moo…

1. Policies issued on or after the effective date of this Act shall provide for policy loan interest rates as follows: A. A provision permitting a maximum interest rate of not more than 8% each year; or [PL 1981, c. 188, §4 (NEW).] B. A provision permitting an adjustable maximum …

The provisions of sections 2552 and 2553 shall not impair any insurance contract issued before the effective date of this Act.

1. In order to offer a life insurance policy providing for acceleration of life insurance or annuity benefits in advance of the time the benefits would otherwise be payable because of confinement to a nursing home or long-term care facility, receipt of home health care or hospice…

1. Notice to 3rd party. An individual life insurance policy that has been in force for at least one year may not be terminated for nonpayment of premium unless, at least 21 days prior to the expiration of the grace period, the insurer has mailed a notice of cancellation to the po…