reglab/housing_qa huggingface dataset:
NE Code § 44-407.06 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-407.06 - Law; policies to which applicable.

44-407.06.  Law; policies to which applicable.Sections 44-407 to 44-407.09 and 44-407.24 to 44-407.26 shall not apply to any (1) reinsurance, (2) group insurance, (3) pure endowment, (4) annuity or reversionary annuity contract, (5) term policy of uniform amount which provides no guaranteed nonforfeiture or endowment benefits, or renewal thereof, of twenty years or less expiring before age seventy-one, for which uniform premiums are payable during the entire term of the policy, (6) term policy of decreasing amount which provides no guaranteed nonforfeiture or endowment benefits, on which each adjusted premium, calculated as specified in sections 44-407.04, 44-407.08, 44-407.09, and 44-407.24, is less than the adjusted premium so calculated, on a term policy of uniform amount, or renewal thereof, which provides no guaranteed nonforfeiture or endowment benefits, issued at the same age and for the same initial amount of insurance, and for a term of twenty years or less expiring before age seventy-one, for which uniform premiums are payable during the entire term of the policy, (7) policy which provides no guaranteed nonforfeiture or endowment benefits, for which no cash surrender value, if any, or present value of any paid-up nonforfeiture benefit, at the beginning of any policy year, calculated as specified in sections 44-407.02 to 44-407.04, 44-407.08, 44-407.09, and 44-407.24, exceeds two and one-half percent of the amount of insurance at the beginning of the same policy year, or (8) policy which shall be delivered outside this state through an agent or other representative of the company issuing the policy.For purposes of determining the applicability of sections 44-407 to 44-407.09 and 44-407.24 to 44-407.26, the age of expiry for a joint term life insurance policy shall be the age at expiry of the oldest life.Source   Laws 1943, c. 106, § 5(6), p. 367;   R.S.1943, § 44-407.06;   Laws 1959, c. 206, § 5, p. 722;   Laws 1965, c. 262, § 8, p. 740;   Laws 1981, LB 355, § 8.
NE Code § 44-407.07 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-407.07 - Law; operative date, defined.

44-407.07.  Law; operative date, defined.After August 27, 1943, any company may file with the Department of Insurance a written notice of its election to comply with the provisions of sections 44-407 to 44-407.07 after a specified date before January 1, 1950. After the filing of such notice, then upon such specified date (which shall be the operative date for such company) said sections shall become operative with respect to the policies thereafter issued by such company. If a company makes no such election, the operative date of said sections for such company shall be January 1, 1950.Source   Laws 1943, c. 106, § 5(7), p. 367;   R.S.1943, § 44-407.07;   Laws 1947, c. 163, § 1, p. 451.
NE Code § 44-407.08 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-407.08 - Policies issued on or after operative date of law; adjusted premiums; present values; how determined; filing of election; exception.

44-407.08.  Policies issued on or after operative date of law; adjusted premiums; present values; how determined; filing of election; exception.This section shall not apply to ordinary policies issued on or after the operative date of section 44-407.24 as defined therein.In the case of ordinary policies issued on or after the operative date of this section as defined herein, all adjusted premiums and present values referred to in sections 44-407 to 44-407.09, shall be calculated on the basis of the Commissioners 1958 Standard Ordinary Mortality Table and the rate of interest, specified in the policy for calculating cash surrender values and paid-up nonforfeiture benefits; such rate of interest shall not exceed three and one-half percent per annum except that a rate of interest not exceeding four percent per annum may be used for policies issued on or after September 2, 1973, and prior to August 24, 1979, and a rate of interest not exceeding five and one-half percent per annum may be used for policies issued on or after August 24, 1979; Provided, that for any category of ordinary insurance issued on female risks, adjusted premiums and present values may be calculated according to an age not more than six years younger than the actual age of the insured; provided further, that in calculating the present value of any paid-up term insurance with accompanying pure endowment, if any, offered as a nonforfeiture benefit, the rates of mortality assumed may be not more than those shown in the Commissioners 1958 Extended Term Insurance Table; and provided further, that for insurance issued on a substandard basis, the calculation of any such adjusted premiums and present values may be based on such other table of mortality as may be specified by the company and approved by the Department of Insurance.After September 28, 1959, any company may file with the Department of Insurance a written notice of its election to comply with the provisions of this section after a specified date before January 1, 1966. After the filing of such notice, then upon such specified date, which shall be the operative date of this section for such company, this section shall become operative with respect to the ordinary policies thereafter issued by such company. If a company makes no such election, the operative date of this section for such company shall be January 1, 1966.Source   Laws 1959, c. 206, § 3, p. 721;   Laws 1965, c. 262, § 9, p. 740;   Laws 1973, LB 309, § 3;   Laws 1979, LB 354, § 4;   Laws 1981, LB 355, § 9.  Cross References  Mortality tables, see Appendix, Nebraska Revised Statutes, Volume 2A.
NE Code § 44-407.09 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-407.09 - Industrial policies issued on or after operative date of law; premiums and values; how calculated; tables used; written notice filed with department; election; exception.

44-407.09.  Industrial policies issued on or after operative date of law; premiums and values; how calculated; tables used; written notice filed with department; election; exception.This section shall not apply to industrial policies issued on or after the operative date of section 44-407.24 as defined therein.In the case of industrial policies issued on or after the operative date of this section, all adjusted premiums and present values referred to in sections 44-407 to 44-407.09 and 44-407.24 to 44-407.26, shall be calculated on the basis of the Commissioners 1961 Standard Industrial Mortality Table and the rate of interest, specified in the policy for calculating cash surrender values and paid-up nonforfeiture benefits; such rate of interest shall not exceed three and one-half percent per annum except that a rate of interest not exceeding four percent per annum may be used for policies issued on or after September 2, 1973, and prior to August 24, 1979, and a rate of interest not exceeding five and one-half percent per annum may be used for policies issued on or after August 24, 1979; Provided, that in calculating the present value of any paid-up term insurance with accompanying pure endowment, if any, offered as a nonforfeiture benefit, the rates of mortality assumed may be not more than those shown in the Commissioners 1961 Industrial Extended Term Insurance Table; and provided further, that for insurance issued on a substandard basis, the calculations of any such adjusted premiums and present values may be based on such other table of mortality as may be specified by the company and approved by the Department of Insurance. After September 18, 1965, any company may file with the Department of Insurance a written notice of its election to comply with the provisions of this section after a specified date before January 1, 1968. After the filing of such notice, then upon such specified date, which shall be the operative date of this section for such company, this section shall become operative with respect to the industrial policies thereafter issued by such company. If a company makes no such election, the operative date of this section for such company shall be January 1, 1968.Source   Laws 1965, c. 262, § 10, p. 741;   Laws 1973, LB 309, § 4;   Laws 1979, LB 354, § 5;   Laws 1981, LB 355, § 10.  Cross References  For determination of operative date, see section 44-407.23.
NE Code § 44-407.10 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-407.10 - Standard Nonforfeiture Law for Individual Deferred Annuities; how cited; applicability.

44-407.10.  Standard Nonforfeiture Law for Individual Deferred Annuities; how cited; applicability.(1) Sections 44-407.10 to 44-407.23 shall be known as the Standard Nonforfeiture Law for Individual Deferred Annuities.(2) Such sections shall not apply to any reinsurance, group annuity purchased under a retirement plan or plan of deferred compensation established or maintained by an employer, including a partnership, limited liability company, or sole proprietorship, by an employee organization, or by both, other than a plan providing individual retirement accounts or individual retirement annuities under section 408 of the Internal Revenue Code, premium deposit fund, variable annuity, investment annuity, immediate annuity, any deferred annuity contract after annuity payments have commenced, or reversionary annuity, nor to any contract which shall be delivered outside this state through an agent or other representative of the company issuing the contract.Source   Laws 1979, LB 354, § 6;   Laws 1993, LB 121, § 225;   Laws 1995, LB 574, § 44.
NE Code § 44-407.11 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-407.11 - Contracts issued on or after operative date of law; provisions required.

44-407.11.  Contracts issued on or after operative date of law; provisions required.In the case of contracts issued on or after the operative date of this act, no contract of annuity, except as stated in subsection (2) of section 44-407.10, shall be delivered or issued for delivery in this state unless it contains in substance the following provisions, or corresponding provisions which in the opinion of the Department of Insurance are at least as favorable to the contract holder, upon cessation of payment of considerations under the contract:(1) That, upon cessation of payment of considerations under a contract or upon the written request of the contract owner, the company shall grant a paid-up annuity benefit on a plan stipulated in the contract of such value as is specified in sections 44-407.16 to 44-407.19 and 44-407.21;(2) If a contract provides for a lump-sum settlement at maturity, or at any other time, that, upon surrender of the contract at or prior to the commencement of any annuity payments, the company shall pay in lieu of any paid-up annuity benefit a cash surrender benefit of such amount as is specified in sections 44-407.16, 44-407.17, 44-407.19, and 44-407.21. The company shall reserve the right to defer the payment of such cash surrender benefit for a period not to exceed six months after demand therefor with surrender of the contract after making written request and receiving written approval of the director. The request shall address the necessity and equitability to all policyholders of the deferral;(3) A statement of the mortality table, if any, and interest rates used in calculating any minimum paid-up annuity, cash surrender, or death benefits that are guaranteed under the contract, together with sufficient information to determine the amounts of such benefits; and(4) A statement that any paid-up annuity, cash surrender, or death benefits that may be available under the contract are not less than the minimum benefits required by any statute of the state in which the contract is delivered and an explanation of the manner in which such benefits are altered by the existence of any additional amounts credited by the company to the contract, any indebtedness to the company on the contract, or any prior withdrawals from or partial surrenders of the contract.Source   Laws 1979, LB 354, § 7;  Laws 2004, LB 1047, § 3.  Cross References  For determination of operative date, see section 44-407.23.
NE Code § 44-407.12 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-407.12 - Deferred annuity contract; company; terminate; cash payment.

44-407.12.  Deferred annuity contract; company; terminate; cash payment.Notwithstanding the requirements of section 44-407.11, any deferred annuity contract may provide that if no considerations have been received under a contract for a period of two full years and the portion of the paid-up annuity benefit at maturity on the plan stipulated in the contract arising from considerations paid prior to such period would be less than twenty dollars monthly, the company may at its option terminate such contract by payment in cash of the then present value of such portion of the paid-up annuity benefit, calculated on the basis of the mortality table, if any, and interest rate specified in the contract for determining the paid-up annuity benefit, and by such payment shall be relieved of any further obligation under such contract.Source  Laws 1979, LB 354, § 8.
NE Code § 44-407.13 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-407.13 - Minimum values; basis.

44-407.13.  Minimum values; basis.The minimum values as specified in sections 44-407.16 to 44-407.19 and 44-407.21 of any paid-up annuity, cash surrender, or death benefits available under an annuity contract shall be based upon minimum nonforfeiture amounts as defined in section 44-407.14.Source   Laws 1979, LB 354, § 9;  Laws 2004, LB 1047, § 4.
NE Code § 44-407.16 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-407.16 - Paid-up annuity benefit; present value; how computed.

44-407.16.  Paid-up annuity benefit; present value; how computed.Any paid-up annuity benefit available under a contract shall be such that its present value on the date annuity payments are to commence is at least equal to the minimum nonforfeiture amount on that date. Such present value shall be computed using the mortality table, if any, and the interest rates specified in the contract for determining the minimum paid-up annuity benefits guaranteed in the contract.Source   Laws 1979, LB 354, § 12;  Laws 2004, LB 1047, § 6.
NE Code § 44-407.17 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-407.17 - Cash surrender benefits; present value; determination.

44-407.17.  Cash surrender benefits; present value; determination.For contracts which provide cash surrender benefits, such cash surrender benefits available prior to maturity shall not be less than the present value as of the date of surrender of that portion of the maturity value of the paid-up annuity benefit which would be provided under the contract at maturity arising from considerations paid prior to the time of cash surrender reduced by the amount appropriate to reflect any prior withdrawals from or partial surrenders of the contract, such present value being calculated on the basis of an interest rate not more than one percent higher than the interest rate specified in the contract for accumulating the net considerations to determine such maturity value, decreased by the amount of any indebtedness to the company on the contract, including interest due and accrued, and increased by any existing additional amounts credited by the company to the contract. In no event shall any cash surrender benefit be less than the minimum nonforfeiture amount at that time. The death benefit under such contracts shall be at least equal to the cash surrender benefit.Source  Laws 1979, LB 354, § 13.
NE Code § 44-407.18 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-407.18 - Contracts without cash surrender benefits; certain death benefit contracts; present value; determination.

44-407.18.  Contracts without cash surrender benefits; certain death benefit contracts; present value; determination.For contracts which do not provide cash surrender benefits, the present value of any paid-up annuity benefit available as a nonforfeiture option at any time prior to maturity shall not be less than the present value of that portion of the maturity value of the paid-up annuity benefit provided under the contract arising from considerations paid prior to the time the contract is surrendered in exchange for, or changed to, a deferred paid-up annuity, such present value being calculated for the period prior to the maturity date on the basis of the interest rate specified in the contract for accumulating the net considerations to determine such maturity value, and increased by any existing additional amounts credited by the company to the contract. For contracts which do not provide any death benefits prior to the commencement of any annuity payments, such present values shall be calculated on the basis of such interest rate and the mortality table specified in the contract for determining the maturity value of the paid-up annuity benefit. In no event shall the present value of paid-up annuity benefit be less than the minimum nonforfeiture amount at that time.Source  Laws 1979, LB 354, § 14.
NE Code § 44-407.19 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-407.19 - Contracts; maturity date; determination.

44-407.19.  Contracts; maturity date; determination.For the purpose of determining the benefits calculated under sections 44-407.17 and 44-407.18, in the case of annuity contracts under which an election may be made to have annuity payments commence at optional maturity dates, the maturity date shall be deemed to be the latest date for which election shall be permitted by the contract, but shall not be deemed to be later than the anniversary of the contract next following the annuitant's seventieth birthday or the tenth anniversary of the contract, whichever is later.Source  Laws 1979, LB 354, § 15.
NE Code § 44-407.20 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-407.20 - Benefits not equal to minimum nonforfeiture amount; statement; when.

44-407.20.  Benefits not equal to minimum nonforfeiture amount; statement; when.Any contract which does not provide cash surrender benefits or does not provide death benefits at least equal to the minimum nonforfeiture amount prior to the commencement of any annuity payments shall include a statement in a prominent place in the contract that such benefits are not provided.Source  Laws 1979, LB 354, § 16.
NE Code § 44-407.21 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-407.21 - Benefits; available other than on contract anniversary; how calculated.

44-407.21.  Benefits; available other than on contract anniversary; how calculated.Any paid-up annuity, cash surrender or death benefits available at any time, other than on the contract anniversary under any contract with fixed scheduled considerations, shall be calculated with allowance for the lapse of time and the payment of any scheduled considerations beyond the beginning of the contract year in which cessation of payment of considerations under the contract occurs.Source  Laws 1979, LB 354, § 17.
NE Code § 44-407.22 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-407.22 - Contract which provides excess benefits; additional benefits; how treated.

44-407.22.  Contract which provides excess benefits; additional benefits; how treated.For any contract which provides, within the same contract by rider or supplemental contract provision, both annuity benefits and life insurance benefits that are in excess of the greater of cash surrender benefits or a return of the gross considerations with interest, the minimum nonforfeiture benefits shall be equal to the sum of the minimum nonforfeiture benefits for the annuity portion and the minimum nonforfeiture benefits, if any, for the life insurance portion computed as if each portion were a separate contract. Notwithstanding the provisions of sections 44-407.16 to 44-407.19 and 44-407.21, additional benefits payable (1) in the event of total and permanent disability, (2) as reversionary annuity or deferred reversionary annuity benefits, or (3) as other policy benefits additional to life insurance, endowment and annuity benefits, and considerations for all such additional benefits, shall be disregarded in ascertaining the minimum nonforfeiture amounts, paid-up annuity, cash surrender and death benefits that may be required by sections 44-407.10 to 44-407.22. The inclusion of such additional benefits shall not be required in any paid-up benefits, unless such additional benefits separately would require minimum nonforfeiture amounts, paid-up annuity, cash surrender and death benefits.Source  Laws 1979, LB 354, § 18.
NE Code § 44-407.23 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-407.23 - Company; when subject to law.

44-407.23.  Company; when subject to law.(1) After August 24, 1979, any company may file with the Department of Insurance a written notice of its election to comply with the provisions of sections 44-403, 44-407.08 to 44-407.23, and 44-8907 after a specified date before the second anniversary of August 24, 1979. After the filing of such notice, such specified date shall be the operative date of this act for such company. Annuity contracts thereafter issued by such company shall comply with such sections. If a company makes no such election, the operative date of this act for such company shall be the second anniversary of August 24, 1979.(2) After July 16, 2004, a company may elect to apply sections 44-407.08 to 44-407.23 to annuity contracts on a contract-form-by-contract-form basis before the second anniversary of July 16, 2004. In all other instances, sections 44-407.08 to 44-407.23 shall become operative with respect to annuity contracts issued by the company after the second anniversary of July 16, 2004.(3) The director may adopt and promulgate rules and regulations to carry out sections 44-407.10 to 44-407.23.Source   Laws 1979, LB 354, § 19;  Laws 2004, LB 1047, § 7;  Laws 2014, LB755, § 14.
NE Code § 44-407.25 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-407.25 - Life insurance; future premiums; benefits; approval of plan by department.

44-407.25.  Life insurance; future premiums; benefits; approval of plan by department.In the case of any plan of life insurance which provides for future premium determination, the amounts of which are to be determined by the insurance company based on then estimates of future experience, or in the case of any plan of life insurance which is of such a nature that minimum values cannot be determined by the methods described in sections 44-407.01 to 44-407.04, 44-407.08, 44-407.09, and 44-407.24, then:(a) The Department of Insurance must be satisfied that the benefits provided under the plan are substantially as favorable to policyholders and insureds as the minimum benefits otherwise required by sections 44-407.01 to 44-407.04, 44-407.08, 44-407.09, and 44-407.24;(b) The Department of Insurance must be satisfied that the benefits and the pattern of premiums of that plan are not such as to mislead prospective policyholders or insureds;(c) The cash surrender values and paid-up nonforfeiture benefits provided by such plan must not be less than the minimum values and benefits required for the plan computed by a method consistent with the principles of the Standard Nonforfeiture Law for Life Insurance, as determined by regulations promulgated by the Department of Insurance;(d) Notwithstanding any other provision in the laws of this state, any policy, contract, or certificate providing life insurance under any such plan must be affirmatively approved by the Department of Insurance before it can be marketed, issued, delivered, or used in this state.Source  Laws 1981, LB 355, § 12.