[PART
VI.]  ANNUITY DISCLOSURE



 



[§431:10D-601]  Definitions.  Whenever
used in this part, unless a different meaning clearly appears from the context:



"Buyer's guide" means:



(1)  A buyer's guide to fixed deferred annuities
approved by the commissioner; or



(2)  The National Association of Insurance
Commissioners Buyer's Guide to Fixed Deferred Annuities.



"Contract owner" means the owner
named in the annuity contract or certificate holder in the case of a group
annuity contract.



"Determinable elements" means
elements that are derived from processes or methods that are guaranteed at
issue and not subject to company discretion but where the values or amounts
cannot be determined until some point after issue.  These elements include:



(1)  Premiums;



(2)  Credited interest rates, including any bonus;



(3)  Benefits;



(4)  Values;



(5)  Non-interest-based credits;



(6)  Charges; or



(7)  Elements of formulas used to determine any of the
above.



These elements may be described as guaranteed but
not determined at issue.  An element is considered determinable if it was
calculated from underlying determinable elements only, or from both
determinable and guaranteed elements.



"Disclosure document" means a
document provided by an insurer to applicants or prospective applicants for an
annuity contract that explains the terms of the contract and contains the
information required in section 431:10D-603(d).



"Funding agreement" means an
agreement for an insurer to:



(1)  Accept and accumulate funds; and



(2)  Make one or more payments at future dates in
amounts that are not based on mortality or morbidity contingencies.



"Generic name" means a short title
descriptive of the annuity contract being applied for or illustrated, such as
"single premium deferred annuity".



"Guaranteed elements" means:



(1)  Premiums;



(2)  Credited interest rates, including any bonus;



(3)  Benefits;



(4)  Values;



(5)  Non-interest-based credits;



(6)  Charges; or



(7)  Elements of formulas used to determine any of the
above,



which are guaranteed and determined at issue.  An
element is considered guaranteed if all of the underlying elements used in its
calculation are guaranteed.



"Non-guaranteed elements" means:



(1)  Premiums;



(2)  Credited interest rates, including any bonus;



(3)  Benefits;



(4)  Values;



(5)  Non-interest-based credits;



(6)  Charges; or



(7)  Elements of formulas used to determine any of the
above,



which are subject to company discretion and are not
guaranteed at issue.  An element is considered non-guaranteed if any of the
underlying non-guaranteed elements are used in its calculation.



"Structured settlement annuity"
means:



(1)  A "qualified funding asset" as defined
in section 130(d) of the Internal Revenue Code; or



(2)  An annuity that would be a "qualified
funding asset"  but for the fact that it is not owned by an assignee under
a qualified assignment. [L 2006, c 71, pt of §1]