Kansas HB2540 exempts contingent deferred annuities from certain provisions of the standard nonforfeiture law for individual deferred annuities act.
Kansas HB2540 amends the standard nonforfeiture law for individual deferred annuities act by exempting contingent deferred annuities from certain provisions. The bill also authorizes the commissioner of insurance to establish nonforfeiture benefits for contingent deferred annuities through rules and regulations. This change aims to provide equitable nonforfeiture benefits for policyholders while considering the risks insured and aligning with the general content of the standard nonforfeiture law.
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