New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter IV - Financial Condition Of Insurer and Reports to Superintendent
Subchapter B - Life Insurers
Part 100 - Recognition of The 2001 Cso Mortality Table and the 2017 Cso Mortality Table for Use in Determining Minimum Reserve Liabilities And Nonforfeiture Benefits and Recognition and Application of Preferred Mortality Tables for Use in Determining Minimum Reserve Liabilities
Section 100.1 - Purposes
Current through Register Vol. 46, No. 39, September 25, 2024
The purposes of this Part are:
(a) to recognize, permit and prescribe the use of the 2001 and 2017 Commissioners Standard Ordinary (CSO) Mortality Tables for life insurance in accordance with Insurance Law sections 4217, 4221, and 4517.
(b) to recognize and permit, under appropriate guidelines, the use of the 2001 and 2017 CSO Preferred Class Structure Mortality Tables for preferred lives for life insurance in accordance with sections 4217 and 4517 Insurance Law sections 4217 and 4517.
(c) to recognize and permit the use of mortality improvement scale LT to be used in conjunction with the 2001 CSO Mortality Table and the 2001 CSO Preferred Class Structure Mortality Table for preferred lives for varying premium term life insurance and for universal life policies that guarantee that coverage will remain in force as long as the accumulation of premiums paid satisfies the secondary guarantee requirement; and
(d) to permit and prescribe the use of the ultimate form of the 2001 CSO Mortality Table for guaranteed issue life insurance in accordance with Insurance Law sections 4217, 4221, and 4517.
