New Hampshire Code of Administrative Rules
Ins - Commissioner, Insurance Department
Chapter Ins 3500 - VALUATION OF LIFE INSURANCE POLICIES
Part Ins 3505 - CALCULATION OF MINIMUM VALUATION STANDARD FOR POLICIES WITH GUARANTEED NONLEVEL GROSS PREMIUMS OR GUARANTEED NONLEVEL BENEFITS (OTHER THAN UNIVERSAL LIFE POLICIES)
Section Ins 3505.08 - Exemption from Unitary Reserves for Certain Juvenile Policies
Universal Citation: NH Admin Rules Ins 3505.08
Current through Register No. 12, March 21, 2024
(a) Unitary basic reserves and unitary deficiency reserves need not be calculated for a policy if the following conditions are met, based upon the initial current premium scale at issue:
(1) At issue, the insured is age twenty-four
(24) or younger;
(2) Until the
insured reaches the end of the juvenile period, which shall occur at or before
age twenty-five (25), the gross premiums and death benefits are level, and
there are no cash surrender values; and
(3) After the end of the juvenile period,
gross premiums are level for the remainder of the premium paying period, and
death benefits are level for the remainder of the life of the policy.
#7419, eff 7-1-01; ss by #9516, eff 7-25-09
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