iiprca03ibonus

Subject Matter of Proposed Rule: The Additional Standards for Bonus Benefits for Individual Deferred Variable Annuity Standards (the "Proposed Standards) apply to bonus benefits built into the annuity contract or added to such contract by rider, endorsement or amendment, which can be interest bonus, a premium bonus, a persistency bonus or any other amounts/percentages that are credited to the premiums paid, account value, cash value, cash surrender value or annuity/maturity value under a specified condition, other than benefits of the type described above that are provided through any pattern of non-level interest rate guarantees that may be similar to but are not specifically referred to as bonuses or additional credits.

Citation to Published Notices: Notice of this rule was published on December 12, 2008.

Name of persons requesting Public Hearing : Director Mary Jo Hudson

Date and Location of Public Hearing, if any: Monday, February 23, 2009 via teleconference

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until February 10, 2009. Written requests for a public hearing must be received no later than January 1, 2009.

Date Approved by Management Committee: Monday, February 23, 2009

Date Adopted by Commission: Saturday, March 14, 2009

Effective Date of Rule: June 25, 2009

Original Version: Additional Standards for Bonus Benefits for Individual Deferred Variable Annuity Contracts

Link to Comments submitted by members and the public:
Industry Advisory Comments
Standards with IAC Comments Incorporated

This rule has been amended.

Click to Expand Amendments to Uniform Standards
Click to Expand 5-Year Review Amendments Adopted April 2016

Name of Proposed Rule: Additional Standards for Bonus Benefits for Individual Deferred Variable Annuity Contracts

Subject Matter of Proposed Rule: The Additional Standards for Bonus Benefits for Individual Deferred Variable Annuity Contracts (the “Proposed Standards”) apply to bonus benefits that are built into individual deferred variable annuity contracts or added to such contracts by rider, endorsement or amendment. The bonus benefit can be an interest bonus, a premium bonus, a persistency bonus or any other amounts/percentages that are credited to the premiums paid, account value, cash value, cash surrender value or annuity/maturity value under a specified condition, other than benefits of the type described above that are provided through any pattern of non-level interest rate guarantees on the general account portion of the contract that may be similar to but are not specifically referred to as bonuses or additional credits. The bonus benefit form may reference the bonus as a credit, enhancement, bonus or similar terminology.

Citation to Published Notices: Notice of this rule was published on December 9, 2015

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Via teleconference, February 24, 2016

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until February 8, 2016. Written requests for a public hearing must be received no later than December 29, 2015.

Date Amended Version Approved by the Management Committee: April 2, 2016

Date Amended Version Adopted by Commission: April 2, 2016

Effective Date of Amended Rule: July 18, 2016

Memos from Product Standards Committee:

Link to Comments submitted by members and the public: