North Dakota Administrative Code
Title 45 - Insurance, Commissioner of
Article 45-04 - Life Insurance
Chapter 45-04-06 - Smoker/Nonsmoker Mortality Tables
Section 45-04-06-01 - Definitions

Universal Citation: ND Admin Code ยง 45-04-06-01
Current through Supplement No. 394, October, 2024

As used in this chapter:

1. "Composite mortality tables" refers to the mortality tables defined in subsections 3 through 6 of this section as they were originally published with rates of mortality that do not distinguish between smokers and nonsmokers.

2. "Smoker and nonsmoker mortality tables" refers to the mortality tables with separate rates of mortality for smokers and nonsmokers derived from the tables defined in subsections 3 through 6 of this section which were developed by the society of actuaries task force on smoker/nonsmoker mortality and the California insurance department staff and recommended on the NAIC technical staff actuarial group.

3. "1958 CET Table" means that mortality table developed by the society of actuaries special committee on new mortality tables, incorporated in the NAIC Model Standard Nonforfeiture Law for Life Insurance, and referred to in that model as the Commissioners 1958 Extended Term Insurance Table.

4. "1958 CSO Table" means that mortality table developed by the society of actuaries special committee on new mortality tables, incorporated in the NAIC Model Standard Nonforfeiture Law for Life Insurance, and referred to in that model as the Commissioners 1958 Standard Ordinary Mortality Table.

5. "1980 CET Table" means that mortality table consisting of separate rates of mortality for male and female lives, developed by the society of actuaries committee to recommend new mortality tables for valuation of standard individual ordinary life insurance, incorporated in the 1980 NAIC amendments to the Model Standard Nonforfeiture Law for Life Insurance, and referred to in those models as the Commissioners 1980 Extended Term Insurance Table.

6. "1980 CSO Table, with or without ten-year select mortality factor" means that mortality table, consisting of separate rate of mortality for male and female lives, developed by the society of actuaries committee to recommend new mortality tables for valuation of standard individual ordinary life insurance, incorporated in the 1980 NAIC amendments to the Model Standard Valuation Law and Standard Nonforfeiture Law for Life Insurance, and referred to in those models as the Commissioners 1980 Standard Ordinary Mortality Table, with or without ten-year select mortality factors. The same select factors will be used for both smokers and nonsmokers tables.

General Authority: NDCC 28-32-02

Law Implemented: NDCC 26.1-33

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