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. Such 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: L. 77: Entire part added, p. 530, § 11, effective July 1.
Structure Colorado Code
Part 5 - Standard Nonforfeiture Law for Individual Deferred Annuities
§ 10-7-503. Compulsory Contract Provisions
§ 10-7-504. Minimum Nonforfeiture Amounts - Rules
§ 10-7-505. Computation of Annuity Benefit
§ 10-7-506. Computation of Cash Surrender Benefit
§ 10-7-507. Computation of Paid-Up Annuity Nonforfeiture Benefit
§ 10-7-508. Determination of Maturity Date
§ 10-7-509. Calculations of Values - Supplemental Rules