58-15-43.2. "Nonforfeiture net level premium" defined.
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/sd/title-58/chapter-58-15/58-15-43-2·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The nonforfeiture net level premium is equal to the present value, at the date of issue of the policy, of the guaranteed benefits provided for by the policy divided by the present value, at the date of issue of the policy, of an annuity of one per annum payable on the date of issue of the policy and on each anniversary of the policy on which a premium falls due.