§ 59A-7-1 Definitions not mutually exclusive; insuring powers;
§ 59A-7-2 Life and annuity
§ 59A-7-3 Accident and health insurance
§ 59A-7-4 Property
§ 59A-7-6 Casualty
§ 59A-7-7 Variable life and annuity
§ 59A-7-10 Limit of risk
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Terms Used In New Mexico Statutes > Chapter 59A > Article 7 - Kinds of Insurance; Limits of Risk; Reinsurance

  • 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.
  • Personal property: All property that is not real property.