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Searching 2021-2022 Session

The Vermont Statutes Online

 

Title 8 : Banking and Insurance

Chapter 103 : LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS

Subchapter 006 : Variable Annuities- Separate Accounts

(Cite as: 8 V.S.A. § 3856)
  • § 3856. Required contents of policy

    Any contract providing benefits payable in variable amounts delivered or issued for delivery in this State shall contain a statement of the essential features of the procedures to be followed by the insurer in determining the dollar amount of such variable benefits. Any such contract under which the benefits vary to reflect investment experience, including a group contract and any certificate in evidence of variable benefits issued thereunder, shall state that such dollar amount will so vary and shall contain on its first page a statement to the effect that the benefits thereunder are on a variable basis. (Added 1971, No. 106, § 2, eff. April 22, 1971.)