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Application provision

13.1 This Chapter applies to accumulating with-profits policies written on a recurring single premium basis.

13.1

01/01/2016

This Chapter applies to accumulating with-profits policies written on a recurring single premium basis.

13.2

01/01/2016

  1. (1) A firm must not attribute any value to a future premium under the contract.
  2. (2) Any liability arising only upon the payment of that premium may be ignored except to the extent that the value of that liability upon payment would exceed the amount of that premium.