Illinois Administrative Code
Title 50 - INSURANCE
Part 1410 - GENERAL ACCOUNT MODIFIED GUARANTEED ANNUITY (GAMGA) CONTRACTS
Section 1410.80 - Reports to Policyholders
Universal Citation: 50 IL Admin Code ยง 1410.80
Current through Register Vol. 48, No. 12, March 22, 2024
Insurers will annually provide their contractholders with a report showing both the account value and the cash surrender value. The report must indicate the amount of any expense charges used to determine the account value and that the account value is determined prior to any adjustment(s) for surrender charges or the MVA formula. It should also specify the surrender charge and MVA and any other charges used to determine the cash surrender value.
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