Section Ins 3505.07 - Exemption from Unitary Reserves for Certain n -Year Renewable Term Life Insurance Policies(a) Unitary basic reserves and unitary deficiency reserves need not be calculated for a policy if the following conditions are met: (1) The policy consists of a series of n-year periods, including the first period and all renewal periods, where n is the same for each period, except that for the final renewal period, n may be truncated or extended to reach the expiry age, provided that this final renewal period is less than 10 years and less than twice the size of the earlier n-year periods, and for each period, the premium rates on both the initial current premium scale and the guaranteed maximum premium scale are level;(2) The guaranteed gross premiums in all n-year periods are not less than the corresponding net premiums based upon the 1980 CSO Table with or without the ten-year select mortality factors; and(3) There are no cash surrender values in any policy year.N.H. Admin. Code § Ins 3505.07
#7419, eff 7-1-01; ss by #9516, eff 7-25-09
Amended by Volume XXXVII Number 28, Filed July 13, 2017, Proposed by #12228, Effective 7/25/2017, Expires 7/25/2027.