"Annuities" means all agreements to make periodic payments in specified or calculable sums pursuant to the terms of a contract for a stated period of time or for the life of the person or persons specified in the contract. "Annuities" does not include contracts defined in § 38.2-102 and qualified charitable gift annuities as defined in § 38.2-106.1.
As used in this title, unless the context requires otherwise, "annuity" shall be deemed to include "variable annuity" and "modified guaranteed annuity," and shall be deemed to include a contract under which a lump sum cash settlement is an alternative to the option of periodic payments.
"Contingent deferred annuity" means an annuity that establishes a life insurer's obligation to make periodic payments for the life of the person or persons specified in the annuity upon the depletion to a specified amount of designated investments that are not owned or held by the insurer due to contractually permitted withdrawals, market performance, fees, or other charges.
1952, c. 317, § 38.1-4; 1966, c. 289; 1970, c. 532; 1985, c. 312; 1986, c. 562; 1992, c. 210; 1993, c. 764; 1996, c. 425; 2001, c. 64; 2026, c. 486.
Notes of Decisions
Hilb, Rogal & Hamilton Co. v. DePew, 440 S.E.2d 918 (Va. 1994).
· cites it 2× “” And, within that article, Code § 38.2-106 states: “ ‘Annuities’’ means all agreements to make periodic payments in fixed dollar amounts pursuant to the terms of a contract for a stated period of time or for the life of a person or persons *248 specified in the contract.”
Texas Com. Bank v. Garamendi, 92 Cal. Daily Op. Serv. 9744 (Cal. Ct. App. 1992).
“8, § 3717 (1984); Va. Code Ann. § 38.2-106 (1990); Wis. Stat.”
In re Neal, 344 B.R. 456 (Bankr. W.D. Va. 2004).
· cites it 5× “nition a policy of life insurance may also provide for an annuity payable in the event of total and permanent disability, but it first must at the minimum provide “insurance upon the lives of human beings” The Court believes that the same rationale is applicable to distinguish…”
Unisys Corp. v. Nebraska Life & Health Ins. Guar. Ass'n, 673 N.W.2d 15 (Neb. 2004).
“The Virginia statutory scheme specifically defined “annuity,” see Va. Code Ann. § 38.2-106 (Michie 1999), and then specifically excluded contracts which would otherwise be considered annuity contracts if such contracts were “not issued to and owned by an individual, except to…”
Unisys v. Nebraska Life & Health Ins., 673 N.W.2d 15 (Neb. 2004).
“The Virginia statutory scheme specifically defined "annuity," see Va.Code Ann. § 38.2-106 (Michie 1999), and then specifically excluded contracts which would otherwise be considered annuity contracts if such contracts were "not issued to and owned by an individual, except to the…”
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