Current through Register Vol. 54, No. 45, November 9, 2024
Section 85.38 - Disclosure of consideration to be paid(a) In the sale of a variable annuity contract, made in conjunction with the sale of a fixed annuity contract or a variable accumulation annuity contract, there shall be a disclosure to the prospective purchaser which shows the consideration to be paid for the variable annuity contract separately from the other charges. If any benefits or nonforfeiture values which may accrue prior to the death of the insured are involved in the presentation of such a sale, the value of such fixed annuity contract or variable accumulation annuity shall be shown separately from any other values.(b) In the sale of a variable accumulation contract made in conjunction with the sale of a variable annuity contract or fixed annuity contract, there shall be a disclosure to the prospective purchaser which shows the consideration to be paid for the variable accumulation contract separately from the other charges. If any benefits or nonforfeiture values which may accrue prior to the death of the insured are involved in the presentation of such a sale, the value of such variable annuity contract or fixed annuity contract shall be shown separately from any other values.