The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
001
:
GENERALLY
(Cite as: 8 V.S.A. § 3717)
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§ 3717. Annuity contracts
A company authorized to transact the business of life insurance may grant annuities.
An annuity is a contract issued for a valuable consideration under which the obligations
are assumed with respect to periodic payments for a specified term or terms or where
the making or continuance of all or of some of such payments, or the amount of any
such payments, is dependent upon the continuance of human life. Such a contract that
includes extra benefits of the kind set forth in subdivisions 3301(a)(1) and (2) of
this title relating to life and health insurance shall nevertheless be deemed to be
an annuity if such extra benefits constitute a subsidiary or incidental part of the
entire contract. (Added 1967, No. 344 (Adj. Sess.), § 1 (ch. 2, subch. 1, § 17).)