Statutes, codes, and regulations
Utah Administrative Code
InsuranceTitle R590 - Administration
Rule R590-95 - Minimum Nonforfeiture Standards for Men and Women Insureds Under the 1980 CSO and 1980 CET Mortality Tables
Section R590-95-4 - Rule A

Utah Admin. Code 590-95-4

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Current through Bulletin 2024-19, October 1, 2024
Section R590-95-4 - Rule A

For any life insurance policy on either a male or female delivered or issued for delivery in this state after the operative date under Subsection 31A-22-408(6)(d) for that policy form, at the option of the company, the following substitutions are allowed:

(1) a mortality table that is a blend of the 1980 CSO Table (M) and the 1980 CSO Table (F) with or without Ten-Ye a r Select Mortality Factors may be substituted for the 1980 CSO Table, with or without Ten-Year Select Mortality Factors; and
(2) a mortality table that is of the same blend as used in Subsection (1) but applied to form a blend of the 1980 CET Table (M) and the 1980 CET Table (F) may be substituted for the 1980 CET Table for use in determining minimum cash surrender values and amounts of paid-up nonforfeiture benefits.
(3) The following tables are acceptable:
(a) 100% Male 0% Female for tables to be designated as "the 1980 CSO-A" and "1980 CET-A" tables.
(b) 80% Male 20% Female for tables to be designated as the "1980 CSO-B" and "1980 CET-B" tables.
(c) 60% Male 40% Female for tables to be designated as the "1980 CSO-C" and "1980 CET-C" tables.
(d) 50% Male 50% Female for tables to be designated as the "1980 CSO-D" and "1980 CET-D" tables.
(e) 40% Male 60% Female for tables to be designated as the "1980 CSO-E" and "1980 CET-E" tables.
(f) 20% Male 80% Female for tables to be designated as the "1980 CSO-F" and "1980 CET-F" tables.
(g) 0% Male 100% Female for tables to be designated as the "1980 CSO-G" and "1980 CET-G" tables.
(4) Tables (a) and (g) may not be used with policies issued on or after January 1, 1985 except where the proportion of persons insured is anticipated to be 90% or more of one sex or the other or except for certain policies converted from group insurance. Such group conversions issued on or after January 1, 1986 must use mortality tables based on the blend of lives by sex expected for such policies if such group conversions are considered as extensions of the Norris decision.

Utah Admin. Code R590-95-4

Amended by Utah State Bulletin Number 2021-19, effective 9/22/2021