Cal. Ins. Code § 10489.93

Current through the 2024 Legislative Session.

Section 10489.93 - Plan of life insurance providing for future premium determination

In the case of a plan of life insurance that provides for future premium determination, the amounts of which are to be determined by the insurance company based on then estimates of future experience, or in the case of a plan of life insurance or annuity that is of a nature that the minimum reserves cannot be determined by the methods described in Sections 10489.5, 10489.6, and 10489.9, the reserves that are held under the plan shall:

(a) Be appropriate in relation to the benefits and the pattern of premiums for that plan; and

(b) Be computed by a method that is consistent with the principles of this Standard Valuation Law, as determined by regulations promulgated by the commissioner.

Ca. Ins. Code § 10489.93

Amended by Stats 2015 ch 658 (SB 696),s 16, eff. 1/1/2016.

Amended by Stats 2004 ch 601 (AB 2384), s 6, eff. 1/1/2005.