Code of Massachusetts Regulations › 211 CMR - DIVISION OF INSURANCE › Title 211 CMR 58.00 - Permitting The Recognition Of Preferred Mortality Tables For Use In Determining Minimum Reserve Liabilities › Section 58.03 - Definitions

Current through Register 1525, July 5, 2024
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 bythe
				National Association of Insurance Commissioners (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 in 211 CMR 58.03:
2001 CSO
				Preferred Class Structure Mortality Table
. 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. Mortality tables in the 2001 CSO Mortality Table
				include the following:
(a)
2001 CSO Mortality Table (F)
means
				that mortality table consisting of the rates of mortality for female lives from
				the 2001 CSO Mortality Table.
(b)
2001 CSO Mortality Table (M)
means
				that mortality table consisting of the rates of mortality for male lives from
				the 2001 CSO Mortality Table.
(c)
Composite Mortality Tables
means
				mortality tables with rates of mortality that do not distinguish between
				smokers and nonsmokers.
(d)
Smoker and Nonsmoker Mortality
				Tables
means mortality tables with separate rates of mortality for
				smokers and nonsmokers.
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.
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.