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 410:6 – Computation of Minimum Standards for Annuities.
410:6 Computation of Minimum Standards for Annuities. – I. Except as provided in RSA 410:7, the minimum standard for the valuation for individual annuity and pure endowment contracts issued on or after the operative date of this section and for annuities and pure endowments purchased on or after the operative date under group annuity […]
Section 410:7 – Computation of Minimum Standard by Calendar Year of Issue.
410:7 Computation of Minimum Standard by Calendar Year of Issue. – I. The interest rates used in determining the minimum standard for the valuation of the following shall be the calendar year statutory valuation interest rates as defined in this section: (a) Life insurance policies issued in a particular calendar year, on or after […]
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 […]