Virginia Administrative Code
Title 14 - INSURANCE
Agency 5 - STATE CORPORATION COMMISSION, BUREAU OF INSURANCE
Chapter 60 - RULES PERMITTING SMOKER/NONSMOKER MORTALITY TABLES FOR USE IN DETERMINING MINIMUM RESERVE LIABILITIES AND NONFORFEITURE BENEFITS
Section 14VAC5-60-10 - Purpose
Universal Citation: 4 VA Admin Code 5-60-10
Current through Register Vol. 41, No. 3, September 23, 2024
The purpose of this chapter (14VAC5-60-10 et seq.) is to permit the use of mortality tables that reflect differences in mortality between smokers and nonsmokers in determining minimum reserve liabilities and minimum cash surrender values and amounts of paid-up nonforfeiture benefits for plans of insurance with separate premium rates for smokers and nonsmokers.
Statutory Authority
§§ 12.1-13, 38.2-223, 38.2-3117, 38.2-3130, and 38.2-3209 of the Code of Virginia.
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