Vermont Statutes Title 8 Sec. 3501
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Terms Used In Vermont Statutes Title 8 Sec. 3501
- 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.
§ 3501. Life insurance and annuities
For all life insurance policies and annuity contracts, the insurer shall maintain reserves as required by chapter 103, subchapter 4 of this title. (Added 1967, No. 344 (Adj. Sess.), § 1 (ch. 1, subch. 6, § 1).)