{"data":{"id":"us-ky/krs-304.6-155","jurisdiction":"us-ky","citation":"KRS 304.6-155","heading":"Annuity and endowment contracts other than group annuity.","body":"This section shall apply to all annuity and pure endowment contracts other than group\nannuity and pure endowment contracts purchased under a retirement plan or plan of\ndeferred compensation, established or maintained by an employer (including a partnership\nor sole proprietorship) or by an employee organization, or by both, other than a plan\nproviding individual retirement accounts or individual retirement annuities under Section\n408 of the Internal Revenue Code, as now or hereafter amended. Reserves accordi ng to\nthe commissioners annuity reserve method for benefits under annuity or pure endowment\ncontracts, excluding any disability and accidental death benefits in such contracts, shall be\nthe greatest of the respective excesses of the present values, at the date of valuation, of\nthe future guaranteed benefits, including guaranteed nonforfeiture benefits, provided for\nby such contracts at the end of each respective contract year, over the present value, at the\ndate of valuation, of any future valuation conside rations derived from future gross\nconsiderations, required by the terms of such contract, that become payable prior to the\nend of such respective contract year. The future guaranteed benefits shall be determined\nby using the mortality table, if any, and th e interest rate, or rates, specified in such\ncontracts for determining guaranteed benefits. The valuation considerations are the\nportions of the respective gross considerations applied under the terms of such contracts\nto determine nonforfeiture values.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=16787","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:38Z","sha256":"b1f1881fdd61822115d91eaadd164c77fad8e4ce245270ef7b36535cf72da470","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.6-151","next":"us-ky/krs-304.6-160"},"notice":"GroundRules: Original legal text. Not legal advice."}