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 100.12 - Universal Life Policies That Guarantee That Coverage Will Remain In Force As Long As The Accumulation Of Premiums Paid Satisfies The Secondary Guarantee Requirement Mortality Improvement

(a) This section applies to universal life policies that guarantee that coverage will remain in force as long as the accumulation of premiums paid satisfies the secondary guarantee requirement, issued on or after January 1, 2015 and prior to January 1, 2017, or on or after January 1, 2015 and prior to January 1, 2020 if optionally elected under subdivision (b) of this section.

(b) An insurer that as of December 31, 2016 utilized the provisions of this section for any universal life policies that guarantee that coverage will remain in force as long as the accumulation of premiums paid satisfies the secondary guarantee requirement issued on or after January 1, 2015 and prior to January 1, 2017, may elect to continue to apply the provisions of this section to universal life policies that guarantee that coverage will remain in force as long as the accumulation of premiums paid satisfies the secondary guarantee requirement issued on or after January 1, 2017 and prior to January 1, 2020, provided that the insurer provides written notification to the superintendent by February 28, 2020.

(c) An insurer shall use the methodology for applying mortality improvement scale LT in conjunction with either the 2001 CSO Mortality Table, or for preferred lives meeting the conditions of section 100.9 of this Part, the 2001 CSO Preferred Class Structure Mortality Table. The resulting mortality adjusted table shall be the minimum mortality standard for policies issued on or after January 1, 2015 and prior to January 1, 2017, or on or after January 1, 2015 and prior to January 1, 2020 if optionally elected under subdivision (b) of this section.

(d)

(e) A numerical example of applying the annual improvement rates and formulas from subdivision (e) of this section follows. The example assumes a super-preferred 45 year old male non-smoker with issue year 2015. The unadjusted mortality table, qx2008, is the 2001 CSO M NS Super Preferred ANB Select & Ultimate Mortality Table. The first segment has a length of 75 years. Select mortality rates shall be used only for the first segment and the Ultimate rates of the 2001 CSO M NS Super Preferred ANB table must be used thereafter. The rates of mortality per 1,000 lives based on age nearest birthday through attained age 90 are shown below.