§ 3791f. Computation of minimum standard by calendar year of issue
§ 3791f. Computation of minimum standard by calendar year of issue (a) 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: (1) life insurance policies issued in a particular calendar year, on or after the […]
§ 3791g. Reserve valuation method—life insurance and endowment benefits
§ 3791g. Reserve valuation method—life insurance and endowment benefits (a) Except as otherwise provided in sections 3791g, 3791h, and 3791m of this subchapter, reserves according to the Commissioner’s reserve valuation method, for the life insurance and endowment benefits of policies providing for a uniform amount of insurance and requiring the payment of uniform premiums shall […]
§ 3791h. Reserve valuation method—annuity and pure endowment benefits
§ 3791h. Reserve valuation method—annuity and pure endowment benefits (a) This section shall apply to all annuity and pure endowment contracts other than group annuity and pure endowment contracts purchased under a retirement plan or plan of deferred compensation, established or maintained by an employer, including a partnership or sole proprietorship, or by an employee […]
§ 3791. Title
§ 3791. Title This subchapter shall be known as the Standard Valuation Law. (Added 2015, No. 63, § 1, eff. June 17, 2015.)
§ 3791a. Definitions
§ 3791a. Definitions As used in this subchapter: (1) “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. (2) “Appointed actuary” means a qualified actuary who is appointed in accordance with the […]
§ 3791b. Reserve valuation
§ 3791b. Reserve valuation (a)(1) Policies and contracts issued prior to the operative date of the Valuation Manual. The 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 company doing business in this State […]
§ 3791c. Actuarial opinion of reserves
§ 3791c. Actuarial opinion of reserves (a) Actuarial Opinion of Reserves after the Operative Date of the Valuation Manual; General. Every company with outstanding life insurance contracts, accident and health insurance contracts, or deposit-type contracts in this State and subject to regulation by the Commissioner shall annually submit the opinion of the appointed actuary as […]
§ 3791d. Computation of minimum standard
§ 3791d. Computation of minimum standard Except as provided in sections 3791e, 3791f, and 3791m of this subchapter, the minimum standard for the valuation of policies and contracts issued prior to the effective date of this subchapter shall be that provided by the laws in effect immediately prior to that date. Except as otherwise provided […]
§ 3791e. Computation of minimum standard for annuities
§ 3791e. Computation of minimum standard for annuities (a) Except as provided in section 3791f of this subchapter, the minimum standard of valuation for individual annuity and pure endowment contracts issued on or after the effective date of this section and for annuities and pure endowments purchased on or after the operative date under group […]