New Mexico Administrative Code
Title 13 - INSURANCE
Chapter 9 - LIFE INSURANCE AND ANNUITIES
Part 10 - USE OF SMOKER/NONSMOKER MORTALITY TABLES
Section 13.9.10.9 - CONDITIONS
Current through Register Vol. 35, No. 6, March 26, 2024
For each plan of insurance with separate rates for smokers and nonsmokers, an insurer may:
A. use composite mortality tables to determine minimum reserve liabilities and minimum cash surrender values and amounts of paid-up nonforfeiture benefits;
B. use smoker and nonsmoker mortality tables to determine the valuation net premiums and additional minimum reserves, if any, required by Section 7 of the NAIC Model Standard Valuation Law and use composite mortality tables to determine the basic minimum reserves, minimum cash surrender values and amounts of paid-up nonforfeiture benefits; or
C. use smoker and nonsmoker mortality to determine minimum reserve liabilities and minimum cash surrender values and amounts of paid-up nonforfeiture benefits.