A. No annuity or pure endowment contract, other than a reversionary annuity (also called survivorship annuities) or group annuities and except as stated in this section, shall be delivered or issued for delivery in this state unless it contains in substance each of the provisions as specified in Sections 383 through 388 [59A-20-18 to 59A-20-23 NMSA 1978] of this article. Any of such provisions not applicable to single-premium annuities or single-premium pure endowment contracts shall not, to that extent, be incorporated therein.
B. This section does not apply to contracts for deferred annuities included in, or upon the lives of beneficiaries under, life insurance policies.
History: Laws 1984, ch. 127, § 382.
Cross references. — For existing forms and filings, see notes following 59A-5-21 NMSA 1978.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 43 Am. Jur. 2d Insurance § 260.
Structure New Mexico Statutes
Article 20 - Life Insurance and Annuity Contracts
Section 59A-20-1 - Scope of article.
Section 59A-20-2 - "Annuity", "industrial life insurance" defined.
Section 59A-20-3 - Standard provisions required.
Section 59A-20-4 - Grace period.
Section 59A-20-5 - Incontestability.
Section 59A-20-6 - Entire contract.
Section 59A-20-7 - Misstatement of age.
Section 59A-20-8 - Dividends, participating policies.
Section 59A-20-9 - Policy loans.
Section 59A-20-10 - Policy loan interest rates.
Section 59A-20-11 - Table of installments.
Section 59A-20-12 - Reinstatement.
Section 59A-20-14 - Payment of claims.
Section 59A-20-15 - Beneficiary, industrial policies.
Section 59A-20-16 - Incontestability; excluded or restricted coverage; after reinstatement.
Section 59A-20-17 - Standard provisions, annuity and pure endowment contracts.
Section 59A-20-18 - Annuities, grace period.
Section 59A-20-19 - Annuities, incontestability.
Section 59A-20-20 - Annuities, entire contract.
Section 59A-20-21 - Annuities, misstatement of age or sex.
Section 59A-20-22 - Annuities, dividends.
Section 59A-20-23 - Annuities, reinstatement.
Section 59A-20-24 - Standard provisions; reversionary annuities.
Section 59A-20-25 - Limitation of liability.
Section 59A-20-26 - Prohibited provisions.
Section 59A-20-27 - Provisions required by other jurisdictions.
Section 59A-20-28 - Special requirements as to participating policies.
Section 59A-20-29 - Prohibited policy plans.
Section 59A-20-30 - Variable contract law.
Section 59A-20-31 - Standard Nonforfeiture Law; life insurance.
Section 59A-20-33 - Standard nonforfeiture law; individual deferred annuities.