Rhode Island Code of Regulations
Title 230 - Department of Business Regulation
Chapter 20 - Insurance
Subchapter 25 - LIFE AND ANNUITIES
Part 12 - Preneed Life Insurance Minimum Standards for Determining Reserve Liabilities and Nonforfeiture Values (230-RICR-20-25-12)
Section 230-RICR-20-25-12.2 - Scope

A. This Part applies to preneed insurance contracts, as defined in this Part, and to similar policies and certificates.

B. The definition of preneed insurance is not well defined. The definition in this model regulation is based on policies used in the study that determined the 2001 CSO was inappropriate for determining reserves for policies used to fund funeral services and expenses. The commissioner shall have the authority to determine what constitutes similar policies and certificates.