Section 26-A2725. CHARGES AGAINST SEPARATE ACCOUNT

 

2725.1The insurer must disclose in writing, prior to or contemporaneously with delivery of the policy, all charges that may be made against the separate account, including, but not limited to, the following:

 

(a)Taxes or reserves for taxes attributable to investment gains and income of the separate account;

 

(b)Actual cost of reasonable brokerage fees and similar direct acquisition and sale costs incurred in the purchase or sale of separate account assets;

 

(c)Actuarially determined costs of insurance (tabular costs) and the release of separate account liabilities;

 

(d)Charges for administrative expenses and investment management expenses, including internal costs attributable to the investment management of assets of the separate account;

 

(e)A charge, at a rate specified in the policy, for mortality and expense guarantees;

 

(f)Any amounts in excess of those required to be held in the separate accounts;

 

(g)Charges for incidental insurance benefits.

 

source

Final Rulemaking published at 42 DCR 1047 (February 24, 1995).