New Hampshire Revised Statutes 410:13 – Reserve Calculation; Indeterminate Premium Plans
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In the case of a plan of life insurance that provides for future premium determination, the amounts of which are to be determined by the insurance company based on its estimates of future experience, or in the case of a plan of life insurance or annuity that is of such a nature that the minimum reserves cannot be determined by the methods described in N.H. Rev. Stat. § 410:8, 410:9 and 410:12, the reserves that are held under the plan shall:
I. Be appropriate in relation to the benefits and the pattern of premiums for that plan; and
II. Be computed by a method that is consistent with the principles of this chapter as determined by rules adopted by the commissioner pursuant to RSA 541-A.
I. Be appropriate in relation to the benefits and the pattern of premiums for that plan; and
Terms Used In New Hampshire Revised Statutes 410:13
- 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.
II. Be computed by a method that is consistent with the principles of this chapter as determined by rules adopted by the commissioner pursuant to RSA 541-A.