Sec. 42-2.6. Minimum policy anniversary nonforfeiture value requirements for indeterminate premium policies

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(a) This section shall not apply to one-year term life insurance coverage funded by dividends.
(b) The minimum nonforfeiture value at the end of any policy year is the greater of:
(1) the minimum nonforfeiture value required for that year based on the requirements of section 4221 of the Insurance Law and the provisions of this Subpart based on the guaranteed gross premium scale; and
(2) the minimum nonforfeiture value required for that year based on the requirements of section 4221 of the Insurance Law and the provisions of this Subpart based on the initial current premium scale.
(c) If any year-end nonforfeiture values are based on the initial current premium scale, then such scale must appear in the policy.

                    
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