Wyoming Administrative Code
Agency 044 - Insurance Dept
Sub-Agency 0002 - General Agency, Board or Commission Rules
Chapter 58 - RECOGNITION OF THE 2001 CSO MORTALITY TABLE
Section 58-5 - Conditions

Universal Citation: WY Code of Rules 58-5

Current through September 21, 2024

(a) For each plan of insurance with separate rates for smokers and nonsmokers an insurer may use:

(i) Composite mortality tables to determine minimum reserve liabilities and minimum cash surrender values and amounts of paid- up nonforfeiture benefits;

(ii) Smoker and nonsmoker mortality tables to determine the valuation net premiums and additional minimum reserves, if any, required by Wyo. Stat. § 26-6-205 and use composite mortality tables to determine the basic minimum reserves, minimum cash surrender values and amounts of paid-up nonforfeiture benefits; or

(iii) Smoker and nonsmoker mortality to determine minimum reserve liabilities and minimum cash surrender values and amounts of paid- up nonforfeiture benefits.

(b) For plans of insurance without separate rates for smokers and nonsmokers the composite mortality tables shall be used.

(c) For the purpose of determining minimum reserve liabilities and minimum cash surrender values and amounts of paid-up nonforfeiture benefits, the 2001 CSO Mortality Table may, at the option of the company for each plan of insurance, be used in its ultimate or select and ultimate form.

(d) When the 2001 CSO Mortality Table is the minimum reserve standard for any plan for a company, the actuarial opinion in the annual statement filed with the commissioner shall be based on an asset adequacy analysis as specified in Wyo. Stat. § 26-6-208 and Chapter 53 of the Wyoming Insurance Regulations. A commissioner may exempt a company from this requirement if it only does business in this state and in no other state.

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