Current through Register Vol. 54, No. 49, December 7, 2024
Section 82.48 - Charges against a separate accountThe insurer shall disclose in writing, prior to or contemporaneously with the delivery of the policy, the charges that may be made against the separate account, including, but not limited to, the following charges:
(1) Taxes or reserves for taxes attributable to investment gains and income of the separate account.(2) Actual cost of reasonable brokerage fees and similar direct acquisition and sales costs incurred in the purchase or sale of separate account assets.(3) Actuarially determined costs of insurance, that is, tabular costs and the release of reserves and benefit base consistent with the release of separate account liabilities.(4) Charges for administrative expenses and investment management expenses, including internal costs attributable to the investment management of assets of the separate account.(5) A charge, at the rate specified in the policy, for mortality and expense guarantees.(6) Any amounts in excess of those required to be held in the separate account.(7) A charge for incidental insurance benefits.The provisions of this § 82.48 adopted August 4, 1978, effective 9/5/1978, 8 Pa.B. 2171; amended April 28, 1989, effective 4/29/1989, 19 Pa.B. 1835; corrected June 30, 1989, effective retroactive to April 29, 1989, 19 Pa.B. 2754. This section cited in 31 Pa. Code § 82.41 (relating to applicability).