Annuities and annuity contract defined.
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AK Code › Title 21 › Chapter 21.12 › Section 21.12.055
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(a) Annuities means all agreements to make periodical payments if the making or continuance of all or some of a series of payments or the amount of a payment is dependent upon the continuance of human life, except payments made under AS 21.12.040 . The business of annuities is considered to include additional benefits operating to safeguard the contract from lapse, or to provide a special surrender value, or special benefit, or annuity, in the event of the total and permanent disability of the holder.
(b) Annuity contract means a contract providing for an annuity as defined in (a) of this section.
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