™Your Policy Risk Impact Agent
66 chapters · 1,628 sections in this title.
S.C. Code Ann. § 38-63-530 Minimum cash surrender values
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(1) In event of default. Any cash surrender value available under the policy in the event of default in a premium payment due on any policy anniversary, whether or not required by SECTION 38-63-520, must be an amount not less than the excess, if any, of the present value on such …
S.C. Code Ann. § 38-63-540 Minimum paid-up nonforfeiture benefits
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Any paid-up nonforfeiture benefit available under the policy in the event of default in a premium payment due on any policy anniversary must be such that its present value as of such anniversary is at least equal to the cash surrender value then provided for by the policy or, if …
S.C. Code Ann. § 38-63-550 Calculation of cash surrender values and paid-up nonforfeiture benefits when default occurs not on anniversary date of policy
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Any cash surrender value and any paid-up nonforfeiture benefit available under the policy in the event of default in a premium payment due at any time other than on the policy anniversary must be calculated with allowance for the lapse of time and the payment of fractional premiu…
S.C. Code Ann. § 38-63-560 Additional benefits and premiums must be disregarded
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Notwithstanding the provisions of SECTION 38-63-530, additional benefits payable: (a) in the event of death or dismemberment by accident or accidental means; (b) in the event of total and permanent disability; (c) as reversionary annuity or deferred reversionary annuity benefits;…
