31 Pa. Code § 85.36 - Stipulation of expense, mortality and investment factors
(a) Any individual variable annuity contract
or group annuity contract where accumulation values are held separately for
each covered participant delivered or issued for delivery in this Commonwealth
shall stipulate the expense, mortality and investment increment factors to be
used in computing the dollar amount of variable benefits or other contractual
payments or values thereunder and shall guarantee that the expense and
mortality results shall not adversely affect such dollar amounts.
(b) Any individual variable accumulation
annuity contract or group variable accumulation contract where accumulation
values are held separately for each covered participant delivered or issued for
delivery in this Commonwealth shall stipulate the expenses to be used in
computing the dollar amount of the accumulation values, and it shall guarantee
that the expense results shall not adversely affect such dollar
amounts.
(c) When used in this
section, the term "expense" may exclude some or all taxes, as stipulated in the
contract.
Notes
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