Browse Arkansas Code titles and sections
23-81-311. Proration of values — Additional benefits.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-81-311. Proration of values — Additional benefits.
(a) For any contract which provides, within the same contract by rider or supplemental contract provision, both annuity benefits and life insurance benefits that are in excess of the greater of cash surrender benefits or a return of the gross considerations with interest, the minimum nonforfeiture benefits, if any, for the life insurance portion shall be computed as if each portion were a separate contract.
(b)(1) Notwithstanding the provisions of §§ 23-81-305 — 23-81-308 and 23-81-310, additional benefits payable:
(A) In the event of total and permanent disability;
(B) As reversionary annuity or deferred reversionary annuity benefits; or
(C) As other policy benefits additional to life insurance, endowment, and annuity benefits, and considerations for all the additional benefits,
shall be disregarded in ascertaining the minimum nonforfeiture amounts, paid-up annuity, cash surrender, and death benefits that may be required by this subchapter.
(2) The inclusion of additional benefits shall not be required in any paid-up benefit, unless the additional benefits separately would require minimum nonforfeiture amounts, paid-up annuity, cash surrender, and death benefits.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-81-311
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
Issuing source page ↗
Authority boundary: historical statutory source snapshot not current law.
Open the recorded source website ↗
Record provenance
Stable record: arkansas_code:legal_authorities:23-81-311
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 1032c7496f485eaa04f323bcd7035042f1765748e13ea97653f46bf567b4f8a3
Source location: content.xml paragraph 49291
Stored source content
23-81-311. Proration of values — Additional benefits.
(a) For any contract which provides, within the same contract by rider or supplemental contract provision, both annuity benefits and life insurance benefits that are in excess of the greater of cash surrender benefits or a return of the gross considerations with interest, the minimum nonforfeiture benefits, if any, for the life insurance portion shall be computed as if each portion were a separate contract.
(b)(1) Notwithstanding the provisions of §§ 23-81-305 — 23-81-308 and 23-81-310, additional benefits payable:
(A) In the event of total and permanent disability;
(B) As reversionary annuity or deferred reversionary annuity benefits; or
(C) As other policy benefits additional to life insurance, endowment, and annuity benefits, and considerations for all the additional benefits,
shall be disregarded in ascertaining the minimum nonforfeiture amounts, paid-up annuity, cash surrender, and death benefits that may be required by this subchapter.
(2) The inclusion of additional benefits shall not be required in any paid-up benefit, unless the additional benefits separately would require minimum nonforfeiture amounts, paid-up annuity, cash surrender, and death benefits.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-81-305. Computation of present value.
(a) Any paid-up annuity benefit available under a contract shall be such that its present value on the date annuity payments are to commence is at least equal to the minimum nonforfeiture amount on that date.
(b) The present value shall be computed using the mortality table, if any, and the interest rate specified in the contract for determining the minimum paid-up annuity benefits guaranteed in the contract.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-81-305
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 23-81-305. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-81-308. Maturity date.
(a) For the purpose of determining the benefits calculated under §§ 23-81-306 and 23-81-307, in the case of annuity contracts under which an election may be made to have annuity payments commence at optional maturity dates, the maturity date shall be deemed to be the latest date for which election shall be permitted by the contract. This date shall not be deemed to be later than the anniversary of the contract next following the annuitant's seventieth birthday or the tenth anniversary of the contract, whichever is later.
(b) This section does not apply to annuities funding funeral and related expenses.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-81-308
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 23-81-308. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-81-310. Inclusion of lapse-of-time considerations.
Any paid-up annuity, cash surrender, or death benefits available at any time, other than on the contract anniversary under any contract with fixed scheduled considerations, shall be calculated with allowance for the lapse of time and the payment of any scheduled considerations beyond the beginning of the contract year in which cessation of payment of considerations under the contract occurs.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-81-310
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 23-81-310. This identifies an authority to review, not proof of applicability.