Virginia Administrative Code
Title 14 - INSURANCE
Agency 5 - STATE CORPORATION COMMISSION, BUREAU OF INSURANCE
Chapter 320 - RULES ESTABLISHING MINIMUM RESERVE STANDARDS FOR INDIVIDUAL AND GROUP ACCIDENT AND SICKNESS INSURANCE CONTRACTS
Section 14VAC5-320-70:1 - APPENDIX A. SPECIFIC STANDARDS FOR MORBIDITY, INTEREST AND MORTALITY

Contracts issued on or after January 1, 1965 and prior to January 1, 1986:

The 1964 Commissioners Disability Table (64 CDT).

Contracts issued on or after January 1, 1994:

The 1985 Commissioners Individual Disability Tables A (85CIDA):

Or

The 1985 Commissioners Individual Disability Tables B (85CIDB).

Contracts issued during 1986 through 1993:

Optional use of either the 64CDT or the appropriate 1985 tables (85CIDA and/or 85CIDB).

Each company shall elect, with respect to all individual contracts issued in any one statement year, whether it will use Tables A or Tables B as the minimum standard. The company may, however, elect to use the other tables with respect to any subsequent statement year.

The minimum morbidity standard in effect for contract reserves on currently issued contracts, as of the date the claim is incurred.

Contracts issued on or after January 1, 1955, and before January 1, 1982:

The 1956 Intercompany Hospital-Surgical Tables.

Contracts issued on or after January 1, 1982:

The 1974 Medical Expense Tables, Table A, Transactions of the Society of Actuaries, Volume XXX, pg. 63. Refer to the paper (in the same volume, pg. 9) to which this table is appended, including its discussions, for methods of adjustment for benefits not directly valued in Table A: "Development of the 1974 Medical Expense Benefits," Houghton and Wolf.

No specific standard. See 5, below.

Contracts issued prior to January 1, 1986:

Any tables established for reserve purposes by a qualified actuary and acceptable to the Commission provided, however that the 1974 Cancer Tables as published by Nelson & Warren, Inc. (74N&W Tables) shall not be used unless:

No Specific standard. See 5, below.

The 1959 Accidental Death Benefits Table.

Actual amount incurred.

For all other individual contract benefits, morbidity assumptions are to be determined as provided in the reserve standards.

For all benefits other than disability, claim reserves are to be determined as provided in the standards.

Contracts issued prior to January 1, 1994:

The same basis, if any, as that employed by the company as of December 31, 1993;

Contracts issued on or after January 1, 1994;

The 1987 Commissioners Group Disability Income Table (87CGDT).

For claims incurred on or after January 1, 1994;

The 1987 Commissioners Group Disability Income Table (87CGDT);

For claims incurred prior to January 1, 1994:

Use of the 87CGDT is optional.

For all other group contract benefits, morbidity assumptions are to be determined as provided in the reserve standards.

For all benefits other than disability, claim reserves are to be determined as provided in the standards.