Section 410:10 – Minimum Reserves.
410:10 Minimum Reserves. – I. In no event shall a company’s aggregate reserves for all life insurance policies, excluding disability and accidental death benefits, issued on or after the effective date of this chapter, be less than the aggregate reserves calculated in accordance with the methods set forth in RSA 410:8, RSA 410:9, RSA […]
Section 410:11 – Optional Reserve Calculation.
410:11 Optional Reserve Calculation. – I. Reserves for policies and contracts issued prior to the effective date of this chapter may be calculated, at the option of the company, according to any standards that produce greater aggregate reserves for all such policies and contracts than the minimum reserves required by the laws in effect […]
Section 410:12 – Reserve Calculation; Valuation Net Premium Exceeding the Gross Premium Charged.
410:12 Reserve Calculation; Valuation Net Premium Exceeding the Gross Premium Charged. – I. If in any contract year the gross premium charged by a company on any policy or contract is less than the valuation net premium for the policy or contract calculated by the method used in calculating the reserve but using the […]
Section 410:3 – Reserve Valuation.
410:3 Reserve Valuation. – I. Policies and Contracts Issued Prior to the Operative Date of the Valuation Manual. (a) The insurance commissioner shall annually value, or cause to be valued, the reserve liabilities (hereinafter called reserves) for all outstanding life insurance policies and annuity and pure endowment contracts of every life insurance company doing […]
Section 410:4 – Actuarial Opinion of Reserves.
410:4 Actuarial Opinion of Reserves. – I. Actuarial Opinion Prior to Operative Date of the Valuation Manual. (a) General. Every life insurance company doing business in this state shall annually submit the opinion of a qualified actuary as to whether the reserves and related actuarial items held in support of the policies and contracts […]
Section 410:5 – Computation of Minimum Standards.
410:5 Computation of Minimum Standards. – Except as provided in paragraphs I and II and RSA 410:14, the minimum standard for the valuation of policies and contracts issued prior to April 7, 1943, except group annuity and pure endowment contracts, shall be that provided by the laws in effect immediately prior to that date. […]
Section 410:1 – Short Title.
410:1 Short Title. – This chapter shall be known as the Standard Valuation Law. Source. 2013, 221:1, eff. Jan. 1, 2014.
Section 410:2 – Definitions.
410:2 Definitions. – In this chapter: I. " Accident and health insurance " means contracts that incorporate morbidity risk and provide protection against economic loss resulting from accident, sickness, or medical conditions and as may be specified in the valuation manual. II. " Appointed actuary " means a qualified actuary who is appointed in […]