Which of the following are required provisions in a market-value adjusted annuity?

A market-value adjusted annuity (MVAA) typically incorporates specific provisions to protect both the insurer and the policyholder. One of the required provisions in these types of annuities is the incontestability period. This provision ensures that after the policy has been in force for a specified period, usually two years, the insurer cannot contest the validity of the contract based on misrepresentation or other reasons. This is crucial for providing security to the annuitant, as they can have confidence that their rights under the contract cannot be invalidated after this set duration, thus fostering trust in the insurance system.

Incorporating this provision helps to mitigate the risk for the policyholder, ensuring a level of stability and reliability in the annuity product. This aspect is particularly significant in situations where an policyholder's health might change, and they want assurance that their contract remains enforceable even if the insurer later discovers information that could have denied coverage at the outset.

The other options, while they may be essential in different types of insurance products or annuities, are not standard requirements specifically for market-value adjusted annuities. Understanding which provisions are mandatory helps in evaluating the security and reliability of an annuity investment.