Maine Revised Statutes
Chapter 29: LIFE INSURANCE AND ANNUITY CONTRACTS
24-A §2550. Inclusion of lapse of time considerations

§2550. 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.   [PL 1979, c. 442, §4 (NEW).]
SECTION HISTORY
PL 1979, c. 442, §4 (NEW).

Structure Maine Revised Statutes

Maine Revised Statutes

TITLE 24-A: MAINE INSURANCE CODE

Chapter 29: LIFE INSURANCE AND ANNUITY CONTRACTS

24-A §2501. Scope of chapter

24-A §2502. Industrial life insurance defined

24-A §2503. Standard provisions required

24-A §2504. Payment of premiums

24-A §2505. Grace period

24-A §2506. Entire contract

24-A §2507. Incontestability

24-A §2508. Misstatement of age

24-A §2509. Dividends

24-A §2510. Policy loan

24-A §2511. Table of installments

24-A §2512. Reinstatement

24-A §2513. Payment of claims

24-A §2514. Beneficiary, industrial policies

24-A §2515. Title

24-A §2515-A. Right to examine and return policy

24-A §2516. Excluded or restricted coverage

24-A §2517. Standard provisions -- annuity and pure endowment contracts

24-A §2518. Grace period -- annuities

24-A §2519. Incontestability -- annuities

24-A §2520. Entire contract -- annuities

24-A §2521. Misstatement of age or sex -- annuities

24-A §2522. Dividends -- annuities

24-A §2523. Reinstatement -- annuities

24-A §2524. Standard provisions -- reversionary annuities

24-A §2525. Limitation of liability

24-A §2526. Prohibited provisions

24-A §2526-A. Acquired Immune Deficiency Syndrome

24-A §2527. Provisions required by law of other jurisdiction

24-A §2528. Short title

24-A §2529. Nonforfeiture provisions

24-A §2530. Cash surrender value

24-A §2531. Paid-up nonforfeiture benefits

24-A §2532. Adjusted premiums for policies issued before the operative date of section 2532-A

24-A §2532-A. Adjusted premiums for policies issued on or after January 1, 1989, or elected operative date of this section

24-A §2532-B. Superintendent's authority to approve certain new plans

24-A §2533. Calculation of cash surrender value of certain policies on default

24-A §2533-A. Additional provisions for policies issued after January 1, 1987

24-A §2534. Exceptions

24-A §2535. Incontestability, limitation of liability after reinstatement

24-A §2536. Participating, nonparticipating policies -- right to issue

24-A §2537. Separate accounts

24-A §2538. Prohibited policy plans

24-A §2539. Holding proceeds of policies in trust

24-A §2540. "Wholesale life insurance" defined

24-A §2541. Short title

24-A §2542. Applicability

24-A §2543. Nonforfeiture provisions

24-A §2544. Minimum values

24-A §2545. Computation of present value

24-A §2546. Calculation of cash surrender values

24-A §2547. Calculation of paid-up annuity benefits

24-A §2548. Maturity date

24-A §2549. Disclosure of limited death benefits

24-A §2550. Inclusion of lapse of time considerations

24-A §2551. Proration of values; additional benefits

24-A §2552. Definitions

24-A §2553. Maximum rate of interest on policy loans

24-A §2554. Applicability to existing policies

24-A §2555. Inclusion of nursing home benefits in life insurance policies

24-A §2556. Notification prior to lapse or termination