Cal. Code Regs. tit. 10 § 2544
Section 10489.93 of the California Insurance Code authorizes the Commissioner to promulgate regulations concerning minimum reserves in the case of any plan of life insurance which provides for future premium determination, the amounts of which are to be determined by the insurance company based on then estimates of future experience, or in the case of any plan of life insurance or annuity which is of such a nature that the minimum reserves cannot be determined by the methods described in Sections 10489.5, 10489.6 and 10489.9. Universal life insurance plans come within the category of plans defined by Section 10489.93.
The purpose of these regulations is to delineate certain methods for determining minimum reserves specifically applicable to universal life insurance policies in accordance with California Insurance Code Section 10489.93.
Cal. Code Regs. Tit. 10, § 2544
2. Amendment of section and NOTE filed 3-22-2016; operative 7-1-2016 (Register 2016, No. 13).
Note: Authority cited: Sections 720, 790.10, 10489.93, 12921 and 12926, Insurance Code. Reference: Section 10489.93, Insurance Code.
2. Amendment of section and Note filed 3-22-2016; operative 7/1/2016 (Register 2016, No. 13).