Alabama Administrative Code
Title 482 - ALABAMA DEPARTMENT OF INSURANCE
Chapter 482-1-120 - VALUATION OF LIFE INSURANCE POLICIES (INCLUDING THE INTRODUCTION AND USE OF NEW SELECT MORTALITY FACTORS)
Section 482-1-120-.01 - Purpose
Universal Citation: AL Admin Code R 482-1-120-.01
Current through Register Vol. 42, No. 5, February 29, 2024
(1) The purpose of this chapter is to provide all of the following:
(a) Tables of select mortality factors and
rules for their use.
(b) Rules
concerning a minimum standard for the valuation of plans with nonlevel premiums
or benefits.
(c) Rules concerning a
minimum standard for the valuation of plans with secondary
guarantees.
(2) The method for calculating basic reserves defined in this chapter will constitute the Commissioners' Reserve Valuation Method for policies to which this chapter is applicable.
Author: Reyn Norman, Associate Counsel
Statutory Authority: Code of Ala. 1975, §§ 27-2-17, 27-36-7.
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