Iowa Code 508A.5 – Other provisions applicable
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Terms Used In Iowa Code 508A.5
- Contract: A legal written agreement that becomes binding when signed.
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
508A.5 Other provisions applicable.
Except for § 508.37 and § 509.2, subsection 1, and except as otherwise
provided in this chapter, all pertinent provisions of chapters 508, 509, 511, and 522B shall apply to separate accounts and contracts relating thereto. Any individual variable life insurance contract, delivered or issued for delivery in this state, shall contain nonforfeiture provisions appropriate to such a contract. Any group variable life insurance contract, delivered or issued for delivery in this state, shall contain a grace provision appropriate to such a contract. The reserve liability for variable contracts shall be established in accordance with actuarial procedures that recognize the variable nature of the benefits provided and any mortality guarantees.
[C75, 77, 79, 81, §508A.5]
2001 Acts, ch 16, §7, 37
Except for § 508.37 and § 509.2, subsection 1, and except as otherwise
provided in this chapter, all pertinent provisions of chapters 508, 509, 511, and 522B shall apply to separate accounts and contracts relating thereto. Any individual variable life insurance contract, delivered or issued for delivery in this state, shall contain nonforfeiture provisions appropriate to such a contract. Any group variable life insurance contract, delivered or issued for delivery in this state, shall contain a grace provision appropriate to such a contract. The reserve liability for variable contracts shall be established in accordance with actuarial procedures that recognize the variable nature of the benefits provided and any mortality guarantees.
[C75, 77, 79, 81, §508A.5]
2001 Acts, ch 16, §7, 37