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 100.6 - Applicability of the 2001 CSO Mortality Table and the 2017 CSO Mortality Table to Part 98 of this Title (Insurance Regulation 147)

(1) Section 98.4(a)(1)(i) of this Title: The valuation mortality table used in determining the tabular cost of insurance shall be the ultimate mortality rates in the 2001 CSO Mortality Table.

(2) Section 98.4(a)(3) of this Title: The 2001 CSO Mortality Table is the minimum mortality standard for basic reserves. For varying premium term life insurance 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 section 100.11(b) of this Part, recognition of mortality improvement, as specified in section 100.11 of this Part, may also be applied. 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, 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 section 100.12(b) of this Part, recognition of mortality improvement, as specified in section 100.12 of this Part, may also be applied.

(3) Section 98.4(b)(5) of this Title: The 2001 CSO Mortality Table is the minimum mortality standard for deficiency reserves. For varying premium term life insurance 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 section 100.11(b) of this Part, recognition of mortality improvement, as specified in section 100.11 of this Part, may also be applied. 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, 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 section 100.12(b) of this Part, recognition of mortality improvement, as specified in section 100.12 of this Part, may also be applied. If select mortality rates are used, they may be multiplied by X percent for durations in the first segment, subject to the conditions specified in section 98.4(b)(5)(i) - (vii) of this Title. In demonstrating compliance with those conditions, the demonstrations shall not combine the results of tests across different mortality tables (e.g. the results of tests that utilize the 1980 CSO Mortality Table shall not be combined with the results of tests that utilize the 2001 CSO Mortality Table), unless the combination is explicitly required by regulation or necessary to be in compliance with relevant Actuarial Standards of Practice.

(4) Section 98.4(f)(2)(i) of this Title: The calculations specified in section 98.4(f)(2) of this Title shall use the ultimate mortality rates in the 2001 CSO Mortality Table.

(5) Section 98.4(j)(2) of this Title: The calculations specified in section 98.4(j) of this Title shall use the ultimate mortality rates in the 2001 CSO Mortality Table.

(6) Section 98.5 of this Title: All calculations are made using the 2001 CSO Mortality rate, and, if elected, the optional minimum mortality standard for deficiency reserves stipulated in paragraph (4) of this subdivision. The value of "qx+k+t-1" is the valuation mortality rate for deficiency reserves in policy year kkt, but using the unmodified select mortality rates if modified select mortality rates are used in the computation of deficiency reserves.

(7) Section 98.6(a)(4) of this Title: The select and ultimate mortality rates in the 2001 CSO Mortality Table may only be used for the first segment. Ultimate mortality rates in the 2001 CSO Mortality Table shall be used for the second and later segments. For varying premium term life insurance 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 section 100.11(b) of this Part, recognition of mortality improvement, as specified in section 100.11 of this Part, may also be applied. 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, 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 section 100.12(b) of this Part, recognition of mortality improvement, as specified in section 100.12, may also be applied.

(8) Section 98.6(b)(4) of this Title: The select and ultimate mortality rates in the 2001 CSO Mortality Table may only be used for the first segment. Ultimate mortality rates in the 2001 CSO Mortality Table shall be used for the second and later segments. For varying premium term life insurance 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 section 100.11(b) of this Part, recognition of mortality improvement, as specified in section 100.11 of this Part, may also be applied. 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, 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 section 100.12(b) of this Part, recognition of mortality improvement, as specified in section 100.12, may also be applied.

(9) Section 98.6(e)(2) of this Title: The calculations specified in section 98.6(e) of this Title shall use the ultimate mortality rates in the 2001 CSO Mortality Table.

(10) Section 98.7(b)(1)(vii)(b) of this Title: The net level reserve premium is based on the ultimate mortality rates in the 2001 CSO Mortality Table.

(11) Section 98.7(b)(2)(i) of this Title: The one-year valuation premium shall be calculated using the ultimate mortality rates in the 2001 CSO Mortality Table.

Nothing in this section shall be construed to expand the applicability of Part 98 of this Title to include life insurance policies exempted under sections 98.2(b), (c), and 98.7(b)(1)(vii) of this Title.

(1) Section 98.4(a)(1)(i) of this Title: The valuation mortality table used in determining the tabular cost of insurance shall be the ultimate mortality rates in the 2017 CSO Mortality Table.

(2) Section 98.4(a)(3) of this Title: The 2017 CSO Mortality Table is the minimum mortality standard for basic reserves.

(3) Section 98.4(b)(5) of this Title: The 2017 CSO Mortality Table is the minimum mortality standard for deficiency reserves. If select mortality rates are used, they may be multiplied by X percent for durations in the first segment, subject to the conditions specified in section 98.4(b)(5)(i)-(vii) of this Title. In demonstrating compliance with those conditions, the demonstrations shall not combine th e results of tests across different mortality tables (e.g. the results of tests that utilize the 2001 CSO Mortality Table shall not be combined with the results of tests that utilize th e 2017 CSO Mortality Table), unless the combination is explicitly required by regulation or necessary to be in compliance with relevant Actuarial Standards of Practice.

(4) Section 98.4(f)(2)(i) of this Title: The calculations specified in section 98.4(f)(2) of this Title shall use the ultimate mortality rates in the 2017 CSO Mortality Table.

(5) Section 98.4(j)(2) of this Title: The calculations specified in section 98.4(j) of this Title shall use the ultimate mortality rates in the 2017 CSO Mortality Table.

(6) Section 98.5 of this Title: All calculations shall use the 2017 CSO Mortality rate, and, if elected, the optional minimum mortality standard for deficiency reserves stipulated in paragraph (4) of this subdivision. The value of "qx+k+t-1" is the valuation mortality rate for deficiency reserves in policy year k+t, but using the unmodified select mortality rates if modified select mortality rates are used in the computation of deficiency reserves.

(7) Section 98.6(a)(4) of this Title: The select and ultimate mortality rates in the 2017 CSO Mortality Table may only be used for the first segment. Ultimate mortality rates in the 2017 CSO Mortality Table shall be used for the second and later segments.

(1) Section 98.4(a)(1)(i) of this Title: The valuation mortality table used in determining the tabular cost of insurance shall be the ultimate form of the 2001 CSO Mortality Table.

(2) Section 98.4(a)(3) of this Title: The ultimate form of the 2001 CSO Mortality Table shall be the minimum mortality standard for basic reserves.

(3) Section 98.4(b)(5) of this Title: The ultimate form of the 2001 CSO Mortality Table shall be the minimum mortality standard for deficiency reserves. The ultimate rates of the 2001 CSO Mortality Table shall not be multiplied by X percent, as described by the conditions specified in section 98.4(b)(5)(i) - (vii) of this Title.

(4) Section 98.4(f)(2)(i) of this Title: The calculations specified in section 98.4(f)(2) of this Title shall use the ultimate form of the 2001 CSO Mortality Table.

(5) Section 98.4(j)(2) of this Title: The calculations specified in section 98.4(j) of this Title shall use the ultimate form of the 2001 CSO Mortality Table.

(6) Section 98.5 of this Title: All calculations shall use the ultimate form of the 2001 CSO Mortality Table.

(7) Section 98.6(a)(4) of this Title: The ultimate form of the 2001 CSO Mortality Table shall be used for all segments.

(8) Section 98.6(b)(4) of this Title: The ultimate form of the 2001 CSO Mortality Table shall be used for all segments.

(9) Section 98.6(e)(2) of this Title: The calculations specified in section 98.6(e) of this Title shall use the ultimate form of the 2001 CSO Mortality Table.

(10) Section 98.7(b)(1)(vii)(b) of this Title: The net level reserve premium shall be based on the ultimate form of the 2001 CSO Mortality Table.

(11) Section 98.7(b)(2)(i) of this Title: The one-year valuation premium shall be calculated using the ultimate form of the 2001 CSO Mortality Table.