New Jersey Administrative Code
Title 11 - INSURANCE
Chapter 4 - ACTUARIAL SERVICES
Subchapter 22 - INDIVIDUAL LIFE INSURANCE: USE OF GENDER BLENDED MORTALITY TABLES
Section 11:4-22.5 - Use of gender blended mortality tables in the non-Norris market
Universal Citation: NJ Admin Code 11:4-22.5
Current through Register Vol. 56, No. 6, March 18, 2024
(a) The preceding rules in this subchapter are intended to address use of gender blended mortality tables as a minimum standard for cash surrender values and paid-up nonforfeiture benefits in the Norris market.
(b) The use of gender blended mortality tables as the basis for cash surrender values and paid-up nonforfeiture benefits in the non-Norris market will be permitted only upon receipt of an actuarial demonstration that the resultant cash values are at least equal to the statutory minimum using the maximum interest rate, maximum initial expense allowance and gender district table specified at 17B:25-19.
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