760 Ind. Admin. Code 1-82-13

Current through November 6, 2024

Section 760 IAC 1-82-13 - Purpose

Authority: IC 27-6-10.1-5

Affected: IC 27-6-10.1-5

Sec. 13.

The purpose of this rule is to:

(1) establish among NAIC members uniform standards governing reserve financing arrangements that pertain to:

(A) a life insurance policy containing guaranteed nonlevel gross premiums;

(B) a life insurance policy containing guaranteed nonlevel benefits; and

(C) a universal life insurance policy with secondary guarantees; and

(2) ensure that, with respect to each financing arrangement, funds consisting of primary security and other security, as defined in this rule, are held by or on behalf of each ceding insurer in the forms and amounts required in this rule.

760 IAC 1-82-13

Department of Insurance; 760 IAC 1-82-13; filed 2/13/2023, 2:47 p.m.: 20230315-IR-760220245FRA