La. Admin. Code tit. 37 § XIII-10707

Current through Register Vol. 50, No. 6, June 20, 2024

Section XIII-10707 - CSO Mortality Tables

A. At the election of the company for any one or more specified plans of insurance and subject to the conditions stated in this regulation, the 2001 CSO Mortality Table may be used as the minimum standard for policies issued on or after January 1, 2005 and before the date specified in Subsection B to which R.S. 22:753, R.S. 22:936 and Sections 10909. A and B of Regulation 85 are applicable. If the company elects to use the 2001 CSO Mortality Table, it shall do so for both valuation and nonforfeiture purposes. Notwithstanding the preceding, the commissioner may specify restrictions on the use of this table for certain categories of life insurance for which the use of this table's mortality assumption is not representative of the business' underlying mortality experience.

B. Subject to the conditions stated in this regulation, the 2001 CSO Mortality Table shall be used in determining minimum standards for policies issued January 1, 2009 through December 31, 2016, to which R.S. 22:753, R.S. 22:936 and Sections 10909.A and B of Regulation 85 are applicable.

C. Subject to the conditions stated in this regulation, either the 2001 CSO Mortality Table or the 2017 CSO Mortality Table may be used in determining the minimum standards for policies issued January 1, 2017 through December 31, 2019, to which R.S. 22:753, R.S. 22:936 and Sections 10909.A and B of Regulation 85 are applicable.

D. Subject to the conditions stated in this regulation, minimum standards for policies issued on or after January 1, 2020 shall be determined using the mortality table in the Valuation Manual adopted by the NAIC at the time of issuance of the policy.

La. Admin. Code tit. 37, § XIII-10707

Promulgated by the Department of Insurance, Office of the Commissioner, LR 31:2542 (October 2005), Amended LR 482296 (9/1/2022).

AUTHORITY NOTE: Promulgated in accordance with R.S.22:11, 22:753, 22:936 and the Administrative Procedure Act, R.S. 49:950 et seq.