Exempting contingent deferred annuities from certain requirements of the standard nonforfeiture law for individual deferred annuities act and authorizing the commissioner of insurance to establish nonforfeiture benefits for such contingent deferred annuities through rules and regulations.

This bill changes rules for certain types of insurance contracts called contingent deferred annuities. It exempts these annuities from some existing requirements but allows the state's insurance commissioner to create new rules for them. These new rules would aim to ensure fair benefits for policyholders while considering the risks involved.

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