Section R590-251-4 - Minimum Standards(1) Mortality Standards. The mortality standard used to determine reserve liabilities and nonforfeiture values for both male and female insureds is the Ultimate 1980 CSO.(2) Interest Rate Standards. (a) The interest rates used to determine the minimum standard for valuation are the calendar year statutory valuation interest rates defined in Section 31A-17-506.(b) The interest rates used to determine the minimum standard for nonforfeiture values are the calendar year statutory nonforfeiture interest rates defined in Section 31A-22-408.(3) Valuation and Nonforfeiture Method Standards.(a) The method used to determine the minimum standard for valuation of reserves of preneed insurance is the method defined in Title 31A, Chapter 17, Part 5, Standard Valuation Law.(b) The method used to determine the minimum nonforfeiture values for preneed insurance is the method defined in Section 31A-22-408.Utah Admin. Code R590-251-4
Amended by Utah State Bulletin Number 2022-23, effective 11/22/2022