Rhode Island General Laws > Chapter 27-4.3 – The Standard Nonforfeiture Law for Life Insurance


§ 27-4.3-1	Short title
§ 27-4.3-1.1	Definitions
§ 27-4.3-2	Nonforfeiture benefits
§ 27-4.3-3	Computation of cash surrender value
§ 27-4.3-4	Computation of paid-up nonforfeiture benefits
§ 27-4.3-5	Calculations of adjusted premiums by the nonforfeiture net level premium method
§ 27-4.3-6	Nonforfeiture benefits for indeterminate premium plans
§ 27-4.3-7	Proration of values – Net value of paid-up additions
§ 27-4.3-8	Consistency of progression of cash surrender values with increasing policy duration
§ 27-4.3-9	Exceptions
§ 27-4.3-10	Severability
§ 27-4.3-11	Rules and regulations

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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}
person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6
Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.