Rhode Island S3008 mandates the Rhode Island life and health insurance guarantee association to cover a minimum of $500,000 in present value of.
Rhode Island S3008 amends the Rhode Island Life and Health Insurance Guaranty Association Act to require the association to cover a minimum of $500,000 in present value of annuity benefits, including net cash surrender and net cash withdrawal values. The act specifies coverage limits and conditions, ensuring the association's obligations do not exceed certain thresholds. This act takes effect upon passage.
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