§ 85.33. Statement of valuation procedure and fluctuation of value.
(a) Any variable annuity contract delivered or issued for delivery in this Commonwealth shall contain clear statements denoting the following:
(1) The essential features of the procedure to be used by the company in determining the dollar amount of such variable benefits or other variable contractual payments or variable values to be paid the contract holder.
(2) The fact that such benefits or other contractual payments or values may decrease or increase with investment experience, and are not guaranteed as to fixed dollar amounts.
(b) Any variable accumulation annuity contract delivered or issued for delivery in this Commonwealth shall contain clear statements denoting the following:
(1) The essential features of the procedure to be used by the company in determining the dollar amount of the accumulation values to be paid the contract holder.
(2) The fact that the accumulation values may decrease or increase with investment experience and are not guaranteed as to fixed dollar amounts.
(c) The statements required under subsections (a)(2) and (b) shall appear in a prominent position in contrasting color or prominent type on the first page of the contract and on the first page or front cover of any certificate evidencing coverage issued pursuant to any variable annuity contract or variable accumulation annuity contract on a group basis.
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