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, must 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.
HISTORY: Former 1976 Code Section 38-8-100 [1978 Act No. 517 Section 10] recodified as Section 38-69-300 by 1987 Act No. 155, Section 1.
Structure South Carolina Code of Laws
Chapter 69 - Individual Annuities
Section 38-69-10. Circulation of false or misleading information by insurers.
Section 38-69-20. Misrepresentations to induce termination or conversion of annuities.
Section 38-69-120. Requirements for certain annuities and pure endowment contracts.
Section 38-69-220. Exceptions from operation of article.
Section 38-69-240. Minimum forfeiture amounts for contracts issued before July 1, 2005.
Section 38-69-245. Minimum nonforfeiture amounts for contracts issued after June 30, 2007.
Section 38-69-247. Minimum nonforfeiture amounts for contracts issued after June 30, 2022.
Section 38-69-250. Paid-up annuity benefits; present value.
Section 38-69-260. Cash surrender benefits.
Section 38-69-270. Contracts not providing cash surrender benefits.
Section 38-69-280. Maturity date under certain contracts.
Section 38-69-290. Statements required in certain contracts.
Section 38-69-300. Calculating benefits available other than on anniversary date.
Section 38-69-310. Contracts providing annuity and insurance benefits.