West Virginia Code of State Rules
Agency 114 - Insurance Commission
Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER
Series 114-68 - Valuation Of Life Insurance Companies
Section 114-68-1 - General
Universal Citation: 114 WV Code of State Rules 114-68-1
Current through Register Vol. XLI, No. 38, September 20, 2024
1.1. Scope. --
1.1.a. The purpose of this rule is to provide:
1.1.a.1. Tables of select mortality factors and
rules for their use;
1.1.a.2. Rules
concerning a minimum standard for the valuation of plans with nonlevel premiums or
benefits; and
1.1.a.3. Rules concerning
a minimum standard for the valuation of plans with secondary guarantees.
1.1.b. The method for calculating basic
reserves defined in this rule will constitute the commissioner's reserve valuation
method for policies to which this rule is applicable.
1.1.c. This rule is based upon the National
Association of Insurance Commissioners' "Valuation of Life Insurance Model
Regulation," Model 830, as amended in 2009.
1.2. Authority. -- W. Va. Code §§ 33-2-10 and 33-7-9(p)(2).
1.3. Filing Date. -- May 10, 2011.
1.4. Effective Date. -- July 1, 2011.
Disclaimer: These regulations may not be the most recent version. West Virginia may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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