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UNOFFICIAL 1725.1-37 (B) Is irrevocable, non-assignable and cannot be sold; (C) Makes equal payments throughout the term of the contract and does not defer payments or allow balloon payments; and (D) Cannot be cancelled upon the death of the institutionalized individual or the community spouse. (e) Certain transactions or changes which occur on or after February 8, 2006, that affect the terms of a qualified annuity that was purchased by the institutionalized individual or their community spouse prior to February 8, 2006, shall be considered a transfer of asset to include, but are not limited to the: (1) Course of payment made by the annuity; (2) Treatment of income or principal of the annuity to include additions of principal, elective withdrawals or requests to change the distribution of the annuity; or (3) Election to annuitize the contract. (f) Routine changes or automatic events or both, made by the institutionalized individual or the community spouse for an annuity that was purchased prior to February 8, 2006, that are not considered a transfer of asset include: (1) Routine changes to include, but are not limited to notifications of address change, death, or divorce of a remainder beneficiary. (2) Changes based on the terms of an annuity which existed prior to February 8, 2006, which do not require a decision, election or action to be effective. (3) Changes that are beyond the control of the institutionalized individual or the community spouse to include, but are not limited to, changes in the law or the issuer’s policies. (g) Transactions or changes made for annuities purchased prior to February 8, 2006, that do not meet the criteria of subsection (f) of this section as well