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054.00.40-4. Rule.

AR ADC 054.00.40-4Arkansas Administrative Code

West's Arkansas Administrative Code
Title 054. Insurance Department
Division 00.
Rule 40. Minimum Nonforfeiture Standards for Men and Women Insureds Under 1980 CSO and 1980 Cet Mortality Tables
Ark. Admin. Code 054.00.40-4
054.00.40-4. Rule.
Currentness
For any policy of insurance on the life of either a male or female insured delivered or issued for delivery in this State and after the operative date of Section 66-3327 (5.3) (10) for that policy form,
(1) a mortality table which is a blend of the 1980 CSO Table (M) and the 1980 CSO Table (F) with or without Ten-Year Select Mortality Factors may at the option of the company be substituted for the 1980 CSO Table, with or without Ten-Year Select Mortality Factors, and
(ii) a mortality table which is of the same blend as used in (i) but applied to form a blend of the 1980 CET Table (M) and the 1980 CET Table (F) may at the option of the company be substituted for the 1980 CET Table.
for use in determining minimum cash surrender values and amounts of paid up nonforfeiture benefits.
The following tables will be considered as the basis for acceptable tables:
A. 100% Male 1 % Female for tables to be designated as the “1980 CSO-A” and “1980 CET-A” tables.
B. 80% Male 20% Female for tables to be designated as the “1980 CSO-B” and “1980 CET-B” tables.
C. 60% Male 40% Female for tables to be designated as the “1980 CSO-C” and “1980 CET-C” tables.
D. 50% Male 50% Female for tables to be designated as the “1980 CSO-D” and “1980 CET-D” tables.
E. 40% Male 60% Female for tables to be designated as the “1980 CSO-E” and “1980 CET-E” tables.
F. 20% Male and 80% Female for tables to be designated as the “1980 CSO-F” and “1980 CET-F” tables.
G. 0% male 100% Female for tables to be designated as the “1980 CSO-G” and “1980 CET-G” tables.
Tables A and G are not to be used with respect to policies issued on or after January 1, 1985, except where the proportion of persons insured is anticipated to be 90% or more of one sex or the other or except for certain policies converted from group insurance. Such group conversions issued on or after January 1, 1986 must use Mortality Tables based on the blend of lives by sex expected for such policies if such group conversions are considered as extensions of the Norris decision. This consideration has not been clearly defined by court or legislative action in all jurisdictions. The values of 1000qx for blended Tables B, C, D, E, and F are shown in Appendix I. The letter in Appendix II states the method by which selection factors may be obtained. Table A is the same as 1980 CSO Table (M) and 1980 CET Table (M) and Table G is the same as 1980 CSO Table (F) and 1980 CET Table (F).
Current with amendments received through February 15, 2024. Some sections may be more current, see credit for details.
Ark. Admin. Code 054.00.40-4, AR ADC 054.00.40-4
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