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.
410:1 Short Title. – This chapter shall be known as the Standard Valuation Law. Source. 2013, 221:1, eff. Jan. 1, 2014.
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 […]
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 […]
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 […]
410:13 Reserve Calculation; Indeterminate Premium Plans. – 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 its estimates of future experience, or in the case of a plan of life insurance or annuity that […]
410:14 Minimum Standard for Accident and Health Insurance Contracts. – For accident and health insurance contracts used on or after the operative date of the valuation manual, the standard prescribed in the valuation manual is the minimum standard of valuation required under RSA 410:3, II. For insurance contracts issued on or after April 7, […]
410:15 Valuation Manual for Policies Issued On or After the Operative Date of the Valuation Manual. – I. For policies issued on or after the operative date of the valuation manual, the standard prescribed in the valuation manual is the minimum standard of valuation required under RSA 410:3, II, except as provided under RSA […]
410:16 Requirements of a Principle-Based Valuation. – I. A company shall establish reserves using a principle-based valuation that meets the following conditions for policies or contracts as specified in the valuation manual: (a) Quantify the benefits and guarantees, and the funding, associated with the contracts and their risks at a level of conservatism that […]
410:17 Experience Reporting for Policies in Force On or After the Operative Date of the Valuation Manual. – A company shall submit mortality, morbidity, policyholder behavior, or expense experience and other data as prescribed in the valuation manual. Source. 2013, 221:1, eff. Jan. 1, 2014.
410:18 Confidentiality. – I. In this section, " confidential information " means: (a) A memorandum in support of an opinion submitted under RSA 410:4 and any other document, materials and other information, including, but not limited to, all working papers, and copies thereof, created, produced or obtained by or disclosed to the commissioner or […]
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 […]
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 […]
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 […]
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. […]
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 […]
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 […]
410:8 Reserve Valuation Method; Life Insurance and Endowment Benefits. – I. Except as otherwise provided in RSA 410:9 and 410:12, 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 be the […]
410:9 Reserve Valuation Method; Annuity and Pure Endowment Benefits. – I. 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 […]