§ 1107.101 Present Value of Nonforfeiture Benefits
§ 1107.102 Computation of Paid-Up Annuity Benefit Under Certain Contracts
§ 1107.103 Computation of Cash Surrender Benefit
§ 1107.104 Computation of Death Benefit
§ 1107.105 Computation of Benefits Available At the Time Other Than Contract Anniversary
§ 1107.106 Minimum Nonforfeiture Values Under Contract That Provides Annuity and Life Insurance Benefits
§ 1107.107 Computations Not Affected by Additional Benefits
§ 1107.108 Rules
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Terms Used In Texas Insurance Code Chapter 1107 > Subchapter C - Value of Nonforfeiture Benefits

  • 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
  • Year: means 12 consecutive months. See Texas Government Code 311.005