A. The term “2001 CSO Mortality Table” means that mortality table, consisting of separate rates of mortality for male and female lives, developed by the American Academy of Actuaries CSO Task Force from the Valuation Basic Mortality Table developed by the Society of Actuaries Individual Life Insurance Valuation Mortality Task Force, and adopted by the NAIC in December 2002. The 2001 CSO Mortality Table is included in the Proceedings of the NAIC (2nd Quarter 2002). Unless the context indicates otherwise, the “2001 CSO Mortality Table” includes both the ultimate form of that table and the select and ultimate form of that table and includes both the smoker and nonsmoker mortality tables and the composite mortality tables. It also includes both the age-nearest-birthday and age-last-birthday bases of the mortality tables.

B. The term “Ultimate 1980 CSO” means the Commissioners' 1980 Standard Ordinary Life Valuation Mortality Tables (1980 CSO) without ten-year (10-year) selection factors, incorporated into the 1980 amendments to the NAIC Standard Valuation Law approved in December 1983.

C. For the purposes of this Rule, preneed insurance is any life insurance policy or certificate that is issued to fund a prepaid funeral contract as defined in Section 4(D) of this Rule or any similar policy or contract written through or in connection with a funeral home with the purpose of providing funds for final expenses and having similar underwriting characteristics as preneed funeral contracts.

D. For the purposes of this Rule, a prepaid funeral contract is a contract as defined in Ark. Code Ann. § 23-40-103(10).