West Virginia Code > Chapter 33 > Article 13A – Variable Contracts


33-13A-1	Establishment of separate accounts
33-13A-2	Features and benefits
33-13A-3	Qualification of companies, subsidiaries and affiliates
33-13A-4	Supervisory powers of Insurance Commissioner
33-13A-5	Application of other insurance laws, valuation of reserves

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.
Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
Contract: A legal written agreement that becomes binding when signed.
Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
Trustee: A person or institution holding and administering property in trust.