Section IV: Surrender by life insurance companies of annuities below a certain minimum amount.

Life insurance companies may, with the agreement of the beneficiary of the annuity and under the conditions specified in articles A. 160-3 and A. 160-4, redeem annuities and annuity increases relating to contracts taken out with them, where the monthly receipts for arrears do not exceed 110 euros, including the amount of statutory increases. This option may be exercised when the contract is wound up or when the annuities are…

The scale fixing the surrender value of the annuities referred to in Article A. 160-2 is that of the mathematical provisions established on the basis of the tables and interest rates set by Articles 142-3 and 142-6 of Regulation No. 2015-11 of 26 November 2015 of the French Accounting Standards Authority relating to the accounting framework for insurance undertakings.

If each arrears receipt can be brought up to the threshold mentioned in article A. 160-2 or article A. 160-2-1 by grouping together the various annuity contracts taken out with the same company by the insured, the latter must be able to choose between surrender and this conversion.