§ 27-4.3-1 Short title
§ 27-4.3-1.1 Definitions
§ 27-4.3-2 Nonforfeiture benefits
§ 27-4.3-3 Computation of cash surrender value
§ 27-4.3-4 Computation of paid-up nonforfeiture benefits
§ 27-4.3-5 Calculations of adjusted premiums by the nonforfeiture net level premium method
§ 27-4.3-6 Nonforfeiture benefits for indeterminate premium plans
§ 27-4.3-7 Proration of values – Net value of paid-up additions
§ 27-4.3-8 Consistency of progression of cash surrender values with increasing policy duration
§ 27-4.3-9 Exceptions
§ 27-4.3-10 Severability
§ 27-4.3-11 Rules and regulations

Terms Used In Rhode Island General Laws > Chapter 27-4.3 - The Standard Nonforfeiture Law for Life Insurance

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Contract: A legal written agreement that becomes binding when signed.
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.