Ala. Admin. Code r. 482-1-139-.04

Current through Register Vol. 43, No. 02, November 27, 2024

Section 482-1-139-.04 - 2001 CSO Preferred Clas Structure Table

At the election of the company, for each calendar year of issue, for any one or more specified plans of insurance and subject to satisfying the conditions stated in this chapter, the 2001 CSO Preferred Class Structure Mortality Table may be substituted in place of the 2001 CSO Smoker or Nonsmoker Mortality Table as the minimum valuation standard for policies issued on or after January 1, 2007, or with the consent of the Commissioner, for policies issued on or after January 1, 2004, and prior to January 1, 2007. In determining such consent, the Commissioner may rely on the consent of the Commissioner of the company's state of domicile. No such election shall be made until the company demonstrates at least 20% of the business to be valued on this table is in one or more of the preferred classes. A table from the 2001 CSO Preferred Class Structure Mortality Table used in place of a 2001 CSO Mortality Table, pursuant to the requirements of this rule, will be treated as part of the 2001 CSO Mortality Table only for purposes of reserve valuation pursuant to the requirements of Chapter 482-1-130 (the Recognition of the 2001 CSO Mortality Table for use In Determining Minimum Reserve Liabilities and Nonforfeiture Benefits Regulation).

Ala. Admin. Code r. 482-1-139-.04

New Rule: Filed December 20, 2006; effective January 1, 2007. Filed with LRS December 20, 2006. Rule is not subject to the Alabama Administrative Procedure Act. New Rule: Filed May 13, 2010; effective June 1, 2010. Filed with LRS May 13, 2010. Rule is not subject to the Alabama Administrative Procedure Act.

Amended by Alabama Administrative Monthly Volume XLII, Issue No. 09, June 28, 2024, eff. 7/1/2024.

Author: Commissioner of Insurance

Statutory Authority:Code of Ala. 1975, §§ 27-2-17 and 27-36A-1 to 27-26A-20.