Compilation of Rules and Regulations of the State of Georgia › Department 120 - OFFICE OF COMMISSIONER OF INSURANCE, SAFETY FIRE COMMISSIONER AND INDUSTRIAL LOAN COMMISSIONER › Chapter 120-2 - RULES OF COMMISSIONER OF INSURANCE › Subject 120-2-90 - STANDARD NONFORFEITURE AND VALUATION FOR USE IN DETERMINING MINIMUM RESERVE LIABILITIES AND NONFORFEITURE BENEFITS REGULATION › Rule 120-2-90-.03 - Definitions

Current through Rules and Regulations filed through June 27, 2024
(1) As used in this
				regulation:
(a) "2001 CSO Mortality Table"
				means that mortality table, consisting of separate rates for 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) and
				supplemented by the 2001 CSO Preferred Class Structure Mortality Table defined
				below in subsection (d). 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) "2001 CSO Mortality
				Table (F)" means that mortality table consisting of the rates of mortality for
				female lives from the 2001 CSO Mortality Table.
(c) "2001 CSO Mortality Table (M)" means that
				mortality table consisting of the rates of mortality for male lives from the
				2001 CSO Mortality Table.
(d) "2001
				CSO Preferred Class Structure Mortality Table" means mortality tables with
				separate rates of mortality for Super Preferred Nonsmokers, Preferred
				Nonsmokers, Residual Standard Nonsmokers, Preferred Smokers, and Residual
				Standard Smoker splits of the 2001 CSO Nonsmoker and Smoker tables as adopted
				by the NAIC at the September, 2006 national meeting and published in the
NAIC Proceedings {3rd Quarter
				2006
}. Unless the context indicates otherwise, the "2001 CSO Preferred
				Class Structure Mortality Table" includes both the ultimate form of that table
				and the select and ultimate form of that table. It includes both the smoker and
				nonsmoker mortality tables. It includes both the male and female mortality
				tables and the gender composite mortality tables. It also includes both the
				age-nearest-birthday and age-last-birthday bases of the mortality
				table.
(e) "Composite mortality
				tables" means mortality tables with rates of mortality that do not distinguish
				between smokers and nonsmokers.
(f)
				"Smoker and nonsmoker mortality tables" means mortality tables with separate
				rates of mortality for smokers and nonsmokers.
(g) "Appendix A-830" means Appendix A-830 of
				the NAIC Accounting Practices and Procedures Manual.
(h) "Statistical agent" means an entity with
				proven systems for protecting the confidentiality of individual insured and
				insurer information; demonstrated resources for and history of ongoing
				electronic communications and data transfer ensuring data integrity with
				insurers, which are its members or subscribers; and a history of and means for
				aggregation of data and accurate promulgation of the experience modifications
				in a timely manner.