Code of Maine Rules
02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
031 - BUREAU OF INSURANCE
Chapter 340 - MORTALITY TABLES FOR DETERMINING MINIMUM RESERVES AND NONFORFEITURE BENEFITS
Article IV - Smoker/Nonsmoker Mortality Table
Section 031-340-IV-4 - Conditions

Universal Citation: 02 ME Code Rules ยง 031-340-IV-4

Current through 2024-38, September 18, 2024

For each plan of insurance with separate rates for smokers and nonsmokers an insurer may

(1) Use composite mortality tables to determine minimum reserve liabilities and minimum cash surrender values and amounts of paid-up nonforfeiture benefits,

(2) Use smoker and nonsmoker mortality tables to determine the valuation net premiums and additional minimum reserves, if any, required by Title 24-A M.R.S.A. Section957 and use composite mortality tables to determine the basic minimum reserves, minimum cash surrender values and amounts of paid-up nonforfeiture benefits, or

(3) Use smoker and nonsmoker mortality to determine minimum reserve liabilities and minimum cash surrender values and amounts of paid-up nonforfeiture benefits.

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