Contact Person: - Illinois

The death benefit for individual and group annuity contracts not specifically excluded by 215 ILCS 5/229.4a(2) must be at least equal to the cash surrender benefit. Market Value Adjustment (MVA) Requirement 50 IL Adm. Code 1410.60 a) 3) The MVA formula used in determining nonforfeiture benefits must be stated in the contract and must be ... ................
................