Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 32 - Blended Mortality Tables › Section 32-4.1 - Alternate rule

Current through July 10, 2024
Authority: IC 27-1-3-7
Affected: IC 27-1-12-7; IC 27-1-12-10
Sec. 4.1.
For any policy of insurance on the life of either a male or
				  female insured on a form of insurance with separate rates for smokers and
				  nonsmokers delivered or issued for delivery in this state after the operative
				  date of IC 27-1-12-7(dd)(11) for that policy form, in addition to the mortality
				  tables that may be used according to
				  760 IAC 1-32-4,
(i) a mortality table which is a blend
				of the male and female rates of mortality according to the 1980 CSO Smoker
				Mortality
Table, in the case of lives classified as smokers, or the
				  1980 CSO Nonsmoker Mortality Table, in the case of lives classified as
				  nonsmokers, 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 male and female rates
				of mortality according to the corresponding 1980 CET Smoker Mortality Table or
				1980 CET Nonsmoker Mortality Table 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. For any policy
				using one of the acceptable tables, the same acceptable table may be used in
				determining the minimum standard of valuation for that policy.
The following blended mortality tables will be considered
				  acceptable:
SA: 100% Male 0% Female smoker tables designated as "1980
				  CSO-SA" and "1980 CET-SA" Tables.
SB: 80% Male 20% Female smoker tables designated as "1980
				  CSO-SA
[sic., CSO-SB]
" and "1980 CET-SB" Tables.
SC: 60% Male 40% Female smoker tables designated as "1980
				  CSO-SC" and "1980 CET-SC" Tables.
SD: 50% Male 50% Female smoker tables designated as "1980
				  CSO-SD" and "1980 CET-SD" Tables.
SE: 40% Male 60% Female smoker tables designated as "1980
				  CSO-SE" and "1980 CET-SE" Tables.
SF: 20% Male 80% Female smoker tables designated as "1980
				  CSO-SF" and "1980 CET-SF" Tables.
SG: 0% Male 100% Female smoker tables designated as "1980
				  CSO-SG" and "1980 CET-SG" Tables.
NA: 100% Male 0% Female nonsmoker tables designated as "1980
				  CSO-NA" and "1980 CET-NA" Tables.
NB: 80% Male 20% Female nonsmoker tables designated as "1980
				  CSO-NB" and "1980 CET-NB" Tables.
NC: 60% Male 40% Female nonsmoker tables designated as "1980
				  CSO-NC" and "1980 CET-NC" Tables.
ND: 50% Male 50% Female nonsmoker tables designated as "1980
				  CSO-ND" and "1980 CET-ND" Tables.
NE: 40% Male 60% Female nonsmoker tables designated as "1980
				  CSO-NE" and "1980 CET-NE" Tables.
NF: 20% Male 80% Female nonsmoker tables designated as "1980
				  CSO-NF" and "1980 CET-NF" Tables.
NG: 0% Male 100% Female nonsmoker tables designated as "1980
				  CSO-NG" and "1980 CET-NG" Tables.
Tables SA, SG, NA and NG are not acceptable as blended
				  tables unless the proportion of persons insured is anticipated to be 90% or
				  more of one sex or the other.