New Hampshire Revised Statutes 408:21 – Definitions
Current as of: 2023 | Check for updates
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I. “Separate account” shall mean a segregated investment account maintained by an insurance company.
II. “Variable products” shall mean any life insurance policy or annuity contract issued by an insurance company which provides that the dollar amount of benefits or other contractual payments thereunder may vary according to the investment experience of any separate account or accounts maintained by the insurance company in which amounts received in connection with such policies or contracts have been placed. Variable products shall not be deemed subject to RSA 421-B.
II. “Variable products” shall mean any life insurance policy or annuity contract issued by an insurance company which provides that the dollar amount of benefits or other contractual payments thereunder may vary according to the investment experience of any separate account or accounts maintained by the insurance company in which amounts received in connection with such policies or contracts have been placed. Variable products shall not be deemed subject to RSA 421-B.
Terms Used In New Hampshire Revised Statutes 408:21
- 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.