VM-21: Requirements for Principle-Based Reserves for ...

For variable deferred annuity contracts that either contain no guaranteed benefits or only GMDBs, including “earnings enhanced death benefits,” (i.e., no VAGLBs), the reserve may be determined by using the method outlined below rather than by using the approach described in Section 3.C and Section 3.D (i.e., based on projections), provided ... ................
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