S.D. Admin. R. 20:06:51:02

Current through Register Vol. 50, page 159, June 17, 2024

Section 20:06:51:02 - Election of mortality table

At the election of the insurer 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 after December 31, 2006. No such election may be made until the company demonstrates at least 20 percent 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 this chapter shall be treated as part of the 2001 CSO Mortality Table only for purposes of reserve valuation pursuant to the requirements of the NAIC model regulation, "Recognition of the 2001 CSO Mortality Table For Use in Determining Minimum Reserve Liabilities and Nonforfeiture Benefits Model Regulation."

33 SDR 107, adopted December 6, 2006, effective 1/1/2007.

General Authority: SDCL 58-26-83.

Law Implemented: SDCL 58-26-83.