Such contracts issued after the operative date of RCW
48.23.360 and individual deferred annuities issued before the operative date of RCW
48.23.420 through *
48.23.520 shall contain:
(1) A provision that in the event of default in any stipulated payment, the insurer will grant a paid-up nonforfeiture benefit on a plan stipulated in the contract, effective as of such date, of such value as is hereinafter specified.
(2) A statement of the mortality table and interest rate used in calculating the paid-up nonforfeiture benefit available under the contract.
(3) An explanation of the manner in which the paid-up nonforfeiture benefits are altered by the existence of any paid-up additions credited to the contract or any indebtedness to the insurer on the contract.