Florida Statutes, Rules, and Regulations Pertinent to Life and Annuity Insurance, Including Variable Products
At what age does Florida's senior annuity surrender charge protection begin to apply?
Answer and explanation
Answer: A. Section 627.4554(9) applies its 10 percent surrender charge cap to an annuity contract issued to a senior consumer age 65 or older. Age 64 is the trigger for the secondary addressee lapse notice under section 627.4555, so the two thresholds are easily confused and should be kept apart.Source: Fla. Stat. § 627.4554 — 627.4554(9), Age threshold for senior protection
More florida statutes, rules, and regulations pertinent to life and annuity insurance, including variable products questions
- Which section of Florida's group life provisions governs employee groups?
- Which statement about dependent coverage under a Florida group life plan is accurate?
- Who is responsible for providing the Policy Disclosure Form under the current Florida replacement rule?
- Whose annuity contracts does the Florida creditor exemption in section 222.14 protect?
- A covered employee dies during a Florida group life policy's grace period, before the premium is paid. What does section 627.559 provide?
- A creditor seeks to garnish the cash surrender value of a life policy issued on the life of a Florida resident. What does Florida law provide?
589 Florida questions like this one.
Every answer explained, the ones you miss come back on a spaced schedule, and a plan built from your exam date.