Sec. 12. As used in this chapter, "plan type" refers to the following:
(1) "Plan Type A" means a plan type for which a contractholder:
(A) may not withdraw funds; or
(B) at any time may withdraw funds only:
(i) with an adjustment to reflect changes in interest rates or asset values occurring after receipt of the funds by the company;
(ii) without an adjustment, but with installments over at least five (5) years; or
(iii) as an immediate life annuity.
(2) "Plan Type B" means a plan type for which:
(A) before expiration of the interest rate guarantee, a contractholder may not withdraw funds, or may withdraw funds only:
(i) with an adjustment to reflect changes in interest rates or asset values occurring after receipt of the funds by the company; or
(ii) without an adjustment, but in installments over at least five (5) years; and
(B) at the expiration of the interest rate guarantee, funds may be withdrawn without an adjustment in a single sum or installments over less than five (5) years.
(3) "Plan Type C" means a plan type for which a contractholder may withdraw funds before expiration of the interest rate guarantee in a single sum or installments over less than five (5) years:
(A) without adjustment to reflect changes in interest rates or asset values occurring after receipt of the funds by the company; or
(B) subject only to a fixed surrender charge stipulated in the contract as a percentage of the fund.
As added by P.L.276-2013, SEC.10.
Structure Indiana Code
Article 1. Department of Insurance
Chapter 12.8. Standard Valuation Law
27-1-12.8-1. "Accident and Sickness Insurance"
27-1-12.8-2. "Appointed Actuary"
27-1-12.8-3. "Change in Fund Basis"
27-1-12.8-5. "Confidential Information"
27-1-12.8-7. "Contractholder Behavior"
27-1-12.8-8. "Deposit Type Contract"
27-1-12.8-9. "Issue Year Basis"
27-1-12.8-10. "Life Insurance"
27-1-12.8-13. "Principal Based Valuation"
27-1-12.8-14. "Qualified Actuary"
27-1-12.8-20. Annual Reserve Valuation
27-1-12.8-21. Annual Submission of Qualified Actuary Opinion; Requirements
27-1-12.8-22. Supporting Memorandum; Confidentiality and Privilege
27-1-12.8-23. Annual Submission of Appointed Actuary Opinion; Supporting Memorandum; Requirements
27-1-12.8-24. Minimum Standard for Valuation of Contracts; Mortality Tables
27-1-12.8-26. Interest Rates in Determining Minimum Standard for Valuation
27-1-12.8-27. Reserves According to Commissioners Reserve Valuation Method
27-1-12.8-28. Reserves According to Commissioners Annuity Reserve Method
27-1-12.8-29. Aggregate Reserves
27-1-12.8-30. Reserves; Calculation
27-1-12.8-31. Minimum Reserve Requirement Related to Gross Premium
27-1-12.8-32. Minimum Reserve Requirement for Certain Contracts
27-1-12.8-33. Accident and Sickness Insurance Contracts
27-1-12.8-36. Submission of Data Prescribed by Valuation Manual
27-1-12.8-37. Confidential Information
27-1-12.8-38. Confidential Information; Release
27-1-12.8-39. Exemptions of Certain Products From Requirements