South Dakota Codified Laws 58-26-65. Tables used for individual annuity and pure endowment contracts issuedprior to July 1, 1978–Interest
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The tables that shall be used for individual annuity and pure endowment contracts issued prior to July 1, 1978, excluding any disability and accidental death benefits in the contracts are: the 1971 Individual Annuity Mortality Table or any modification of this table approved by the director, and six percent interest for single premium immediate annuity contracts, and four percent interest for all other individual annuity and pure endowment contracts.
Terms Used In South Dakota Codified Laws 58-26-65
- 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.
Source: SL 1995, ch 284, § 21.