If the agreement provides for payment of benefits in variable amounts, it shall contain a statement of the essential features of the procedure to be followed by the company in determining the dollar amount of the variable benefits. The agreement, and any certificate in evidence of variable benefits issued under the agreement, shall state that the dollar amount may decrease or increase and shall contain on its first page a statement that the benefits under the agreement are on a variable basis.
Structure 2021 Tennessee Code
Chapter 3 - Operation of Insurance Companies
Part 5 - Separate Accounts and Allocations
§ 56-3-502. Investment of Amounts Allocated to Separate Accounts
§ 56-3-503. Gains and Losses Credited to or Charged Against Allocation
§ 56-3-504. Valuation of Assets Allocated to Separate Account
§ 56-3-505. Amounts Allocated to Be Company Owned
§ 56-3-506. Agreements Providing for Annuity Benefits on a Variable Basis — Statements Required
§ 56-3-508. Regulation of Agreements — Rulemaking Power — Licensing