reglab/statecodes huggingface dataset:
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 7 - (84-104) Mississippi's Regulation Permitting the Use of Smoker/Non-Smoker Mortality Tables When Determining Minimum Reserve Liabilities and Nonforfeiture Benefits › Rule 19-2-7.15 - Table 8

Current through June 25, 2024
Mississippi Model Regulation Permitting
				  Smokers/Nonsmokers Mortality Tables For Use In Determining Minimum Reserve
				  Liabilities and Nonforfeiture Benefits:
1980 CET Male Smoker and Non-Smoker
				  Mortality Rates: Age Nearest Birthday
AGE
Non-Smoker
Smoker
15
2.04
2.40
16
2.18
2.62
17
2.29
2.80
18
2.35
2.91
19
2.41
3.01
20
2.43
3.06
21
2.42
3.08
22
2.39
3.05
23
2.36
3.01
24
2.32
2.96
25
2.27
2.89
26
2.23
2.83
27
2.21
2.91
28
2.19
2.79
29
2.19
2.81
30
2.19
2.85
31
2.22
2.92
32
2.25
2.99
33
2.30
3.10
34
2.36
3.23
35
2.44
3.42
36
2.52
3.65
37
2.63
3.95
38
2.75
4.29
39
2.89
4.68
40
3.04
5.12
41
3.22
5.64
42
3.45
6.18
43
3.72
6.79
44
3.99
7.42
45
4.32
8.15
46
4.67
8.88
47
5.04
9.67
48
5.45
10.50
49
5.90
11.44
50
6.38
12.43
51
6.96
13.57
52
7.62
14.85
53
8.36
16.30
54
9.22
17.94
55
10.17
19.68
56
11.22
21.57
57
12.34
23.52
58
16.55
25.60
59
14.91
27.76
60
16.43
30.15
61
18.12
32.84
62
20.05
35.87
63
22.24
39.30
64
24.73
43.08
65
27.47
47.18
66
30.42
51.44
67
33.62
55.91
68
37.05
60.52
69
40.79
65.42
70
45.02
70.82
71
49.80
76.82
72
55.33
83.63
73
61.67
91.30
74
68.80
99.66
75
76.44
108.90
76
84.58
118.43
77
93.13
128.08
78
102.01
137.68
79
111.44
147.54
80
121.77
158.07
81
133.28
169.53
82
146.28
182.26
83
160.93
196.34
84
176.94
211.24
85
193.96
226.46
86
211.64
241.51
87
229.83
256.18
88
248.16
272.18
89
266.88
287.98
90
286.25
303.80
91
306.59
319.96
92
328.58
337.19
93
353.12
359.19
94
384.35
387.60
95
428.95
428.95
96
499.92
499.92
97
624.26
624.26
98
855.37
855.37
99
1000.00
1000.00
Miss. Code Ann. §
										83-7-25
				  (Rev 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 7 - (84-104) Mississippi's Regulation Permitting the Use of Smoker/Non-Smoker Mortality Tables When Determining Minimum Reserve Liabilities and Nonforfeiture Benefits › Rule 19-2-7.16 - Table 9

Current through June 25, 2024
Mississippi Model Regulation Permitting
				  Smokers/Nonsmokers Mortality Tables For Use In Determining Minimum Reserve
				  Liabilities and Nonforfeiture Benefits:
1980 CSO Female Smoker and Non-Smoker
				  Mortality Rates: Age Last Birthday
AGE
Non-Smoker
Smoker
15
0.86
0.96
16
0.90
1.01
17
0.93
1.06
18
0.96
1.11
19
0.99
1.14
20
1.01
1.17
21
1.03
1.19
22
1.04
1.22
23
1.06
1.25
24
1.08
1.28
25
1.10
1.31
26
1.13
1.36
27
1.15
1.40
28
1.18
1.45
29
1.22
1.51
30
1.25
1.58
31
1.29
1.64
32
1.33
1.71
33
1.38
1.80
34
1.44
1.90
35
1.51
2.01
36
1.61
2.18
37
1.73
2.38
38
1.86
2.61
39
2.00
2.86
40
2.17
3.16
41
2.35
3.48
42
2.53
3.80
43
2.71
4.12
44
2.89
4.44
45
3.09
4.78
46
3.30
5.13
47
3.53
5.49
48
3.77
5.88
49
4.04
6.31
50
4.34
6.77
51
4.67
7.26
52
5.05
7.82
53
5.47
8.44
54
5.90
9.07
55
6.36
9.72
56
6.82
10.36
57
7.27
10.96
58
7.72
11.55
59
8.23
12.18
60
8.83
12.93
61
9.57
13.87
62
10.49
15.08
63
11.62
16.55
64
12.89
18.19
65
14.26
19.92
66
15.68
21.68
67
17.13
23.38
68
18.63
25.10
69
20.30
26.97
70
22.26
29.13
71
24.65
31.98
72
27.58
35.41
73
31.09
39.49
74
35.13
44.14
75
39.64
49.22
76
44.52
54.62
77
49.75
60.26
78
55.41
66.22
79
61.68
72.71
80
68.81
79.98
81
77.01
88.23
82
86.46
97.61
83
97.12
108.44
84
108.87
120.18
85
121.58
132.65
86
135.16
145.75
87
149.59
159.35
88
164.88
173.52
89
181.15
188.25
90
198.53
204.58
91
217.42
222.16
92
238.53
241.66
93
262.35
264.56
94
295.23
295.23
95
341.02
341.02
96
413.88
413.88
97
537.24
537.24
98
743.96
743.96
99
1000.00
1000.00
Miss. Code Ann. §
										83-7-25
				  (Rev 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 7 - (84-104) Mississippi's Regulation Permitting the Use of Smoker/Non-Smoker Mortality Tables When Determining Minimum Reserve Liabilities and Nonforfeiture Benefits › Rule 19-2-7.17 - Table 10

Current through June 25, 2024
Mississippi Model Regulation Permitting
				  Smokers/Nonsmokers Mortality Tables For Use In Determining Minimum Reserve
				  Liabilities and Nonforfeiture Benefits:
1980 CSO Male Smoker and Non-Smoker
				  Mortality Rates: Age Last Birthday
AGE
Non-Smoker
Smoker
15
1.36
1.76
16
1.48
1.96
17
1.57
2.10
18
1.63
2.21
19
1.67
2.28
20
1.68
2.32
21
1.66
2.32
22
1.63
2.28
23
1.59
2.24
24
1.55
2.18
25
1.50
2.11
26
1.47
2.07
27
1.45
2.05
28
1.44
2.05
29
1.44
2.08
30
1.45
2.13
31
1.48
2.20
32
1.52
2.29
33
1.58
2.41
34
1.65
2.55
35
1.73
2.72
36
1.82
2.92
37
1.94
3.17
38
2.07
3.45
39
2.21
3.77
40
2.38
4.14
41
2.56
4.54
42
2.75
4.98
43
2.96
5.46
44
3.19
5.99
45
3.45
6.55
46
3.73
7.13
47
4.03
7.76
48
4.36
8.44
49
4.72
9.18
50
5.13
10.00
51
5.60
10.93
52
6.14
11.98
53
6.76
13.17
54
7.45
14.47
55
8.22
15.86
56
9.06
17.33
57
9.95
18.88
58
10.94
20.51
59
12.05
22.26
60
13.29
24.21
61
14.67
26.41
62
16.26
28.89
63
18.06
31.66
64
20.06
34.69
65
22.25
37.90
66
24.62
41.26
67
27.16
44.74
68
29.92
48.39
69
32.98
52.35
70
36.44
56.72
71
40.39
61.63
72
44.95
67.18
73
50.11
73.33
74
55.78
80.07
75
61.84
87.27
76
68.24
94.63
77
74.93
102.02
78
81.95
109.49
79
89.52
117.30
80
97.88
125.71
81
107.25
134.96
82
117.82
145.21
83
129.54
156.29
84
142.18
167.83
85
155.45
179.44
86
169.18
190.84
87
183.16
202.54
88
197.33
214.73
89
211.89
226.85
90
227.05
239.08
91
243.16
251.80
92
260.82
266.55
93
281.75
285.47
94
309.83
311.27
95
351.86
351.86
96
420.99
420.99
97
541.00
541.00
98
745.15
745.15
99
1000.00
1000.00
Miss. Code Ann. §
										83-7-25
				  (Rev 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 7 - (84-104) Mississippi's Regulation Permitting the Use of Smoker/Non-Smoker Mortality Tables When Determining Minimum Reserve Liabilities and Nonforfeiture Benefits › Rule 19-2-7.18 - Table 11

Current through June 25, 2024
Mississippi Model Regulation Permitting
				  Smokers/Nonsmokers Mortality Tables For Use In Determining Minimum Reserve
				  Liabilities and Nonforfeiture Benefits:
1980 CET Female Smoker and Non-Smoker
				  Mortality Rates: Age Last Birthday
AGE
Non-Smoker
Smoker
15
1.61
1.71
16
1.65
1.76
17
1.68
1.81
18
1.71
1.86
19
1.74
1.89
20
1.76
1.92
21
1.78
1.94
22
1.79
1.97
23
1.81
2.00
24
1.83
2.03
25
1.85
2.06
26
1.88
2.11
27
1.90
2.15
28
1.93
2.20
29
1.97
2.26
30
2.00
2.33
31
2.04
2.39
32
2.08
2.46
33
2.13
2.55
34
2.19
2.65
35
2.26
2.76
36
2.36
2.93
37
2.48
3.13
38
2.61
3.39
39
2.75
3.72
40
2.92
4.11
41
3.10
4.52
42
3.29
4.94
43
3.52
5.36
44
3.76
5.77
45
4.02
6.21
46
4.29
6.67
47
4.59
7.14
48
4.90
7.64
49
5.25
8.20
50
5.64
8.80
51
6.07
9.44
52
6.57
10.17
53
7.11
10.97
54
7.67
11.79
55
8.27
12.64
56
2.87
16.47
57
9.45
14.24
58
10.04
15.02
59
10.70
15.83
60
11.48
16.81
61
12.44
18.03
62
13.64
19.60
63
15.11
21.52
64
16.76
23.65
65
18.54
25.90
66
20.38
28.18
67
22.27
30.39
68
24.22
32.63
69
26.39
35.06
70
28.94
37.93
71
32.05
41.57
72
35.85
46.03
73
40.42
51.34
74
45.67
57.38
75
51.53
63.99
76
57.88
71.01
77
64.68
78.34
78
72.03
86.09
79
80.18
94.52
80
89.45
103.97
81
100.11
114.70
82
112.40
126.89
83
126.26
140.97
84
141.53
156.23
85
158.05
172.45
86
175.71
189.48
87
194.47
207.16
88
214.34
225.58
89
235.50
244.73
90
258.09
265.95
91
282.65
288.81
92
310.09
314.16
93
342.36
343.93
94
383.80
383.80
95
443.33
443.33
96
538.04
538.04
97
698.41
698.41
98
967.15
967.15
99
1000.00
1000.00
Miss. Code Ann. §
										83-7-25
				  (Rev 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 7 - (84-104) Mississippi's Regulation Permitting the Use of Smoker/Non-Smoker Mortality Tables When Determining Minimum Reserve Liabilities and Nonforfeiture Benefits › Rule 19-2-7.19 - Table 12

Current through June 25, 2024
Mississippi Model Regulation Permitting
				  Smokers/Nonsmokers Mortality Tables For Use In Determining Minimum Reserve
				  Liabilities and Nonforfeiture Benefits:
1980 CET Male Smoker and Non-Smoker
				  Mortality Rates: Age Last Birthday
AGE
Non-Smoker
Smoker
15
2.11
2.51
16
2.23
2.71
17
2.32
2.85
18
2.38
2.96
19
2.42
3.03
20
2.43
3.07
21
2.41
3.07
22
2.38
3.03
23
2.34
2.99
24
2.30
2.93
25
2.25
2.86
26
2.22
2.82
27
2.20
2.80
28
2.19
2.80
29
2.19
2.83
30
2.20
2.88
31
2.23
2.95
32
2.27
3.04
33
2.33
3.16
34
2.40
3.32
35
2.48
3.54
36
2.57
3.80
37
2.69
4.12
38
2.82
4.49
39
2.96
4.90
40
3.13
5.38
41
3.33
5.90
42
3.58
6.47
43
3.85
7.10
44
4.15
7.79
45
4.49
8.52
46
4.85
9.27
47
5.24
10.09
48
5.67
10.97
49
6.14
11.93
50
6.67
13.00
51
7.28
14.21
52
7.98
15.57
53
8.79
17.12
54
9.69
18.81
55
10.69
20.62
56
11.78
22.53
57
12.94
24.54
58
14.22
26.66
59
15.67
28.94
60
17.28
31.47
61
19.07
34.33
62
21.14
37.56
63
23.48
41.16
64
26.08
45.10
65
28.93
49.27
66
32.01
53.64
67
35.31
58.16
68
38.90
62.91
69
42.87
68.06
70
47.37
73.74
71
52.51
80.12
72
58.44
87.33
73
65.14
95.33
74
72.51
104.09
75
80.39
113.45
76
88.71
123.02
77
97.41
132.63
78
106.54
142.34
79
116.38
152.49
80
127.24
163.42
81
139.43
175.45
82
153.17
188.77
83
168.40
203.18
84
184.83
218.18
85
202.09
233.27
86
219.93
248.09
87
238.11
263.30
88
256.53
279.15
89
275.46
294.91
90
295.17
310.80
91
316.11
327.34
92
339.07
346.52
93
366.28
371.11
94
402.78
404.65
95
457.42
457.42
96
547.29
547.29
97
703.30
703.30
98
968.70
968.70
99
1000.00
1000.00
Miss. Code Ann. §
										83-7-25
				  (Rev 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 8 - (84-105) Recognizing Certain 1983 Mortality Tables To Be Used When Determining the Minimum Standard of Valuation for Annuity and Pure Endowment Contracts › Rule 19-2-8.01 - Preamble and Authority

Current through June 25, 2024
I, George Dale, duly elected Commissioner of Insurance of the
				  State of Mississippi, pursuant to the authority granted in me in Section
				  83-7-25,
				  Mississippi Code of 1972, as Amended, and in accordance with Sections 25-43-1
				  through 25-43-19, Mississippi Code of 1972, known as the Mississippi
				  Administrative Procedure Law, do hereby promulgate the following Rules and
				  Regulation with an effective date as herein set forth in Section 7, upon
				  compliance with the applicable statutes.
Miss. Code Ann. §
										83-7-25
				  (Rev 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 8 - (84-105) Recognizing Certain 1983 Mortality Tables To Be Used When Determining the Minimum Standard of Valuation for Annuity and Pure Endowment Contracts › Rule 19-2-8.02 - Purpose

Current through June 25, 2024
The purpose of this Rule is to recognize new mortality
				  tables, 1983 Table "a" and 1983 GAM Table, for use in determining the minimum
				  standard of valuation for annuity and pure endowment
				  contracts.
Miss. Code Ann. §
										83-7-25
				  (Rev 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 8 - (84-105) Recognizing Certain 1983 Mortality Tables To Be Used When Determining the Minimum Standard of Valuation for Annuity and Pure Endowment Contracts › Rule 19-2-8.03 - Definitions

Current through June 25, 2024
A. As used in this Rule "1983 Table a'" means
				that mortality table developed by the Society of Actuaries Committee to
				Recommend a New Mortality Basis for Individual Annuity Valuation and adopted as
				a recognized mortality table for annuities in June 1982 by the National
				Association of Insurance Commissioners.
B. As used in this Rule "1983 GAM Table"
				means that mortality table developed by the Society of Actuaries Committee on
				Annuities and adopted as a recognized mortality table for annuities in December
				1983 by the National Association of Insurance
				Commissioners.
Miss. Code Ann. §
										83-7-25
				  (Rev 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 8 - (84-105) Recognizing Certain 1983 Mortality Tables To Be Used When Determining the Minimum Standard of Valuation for Annuity and Pure Endowment Contracts › Rule 19-2-8.04 - Individual Annuity or Pure Endowment Contracts

Current through June 25, 2024
A. The
				1983 Table "a" is recognized and approved as an individual annuity mortality
				Table for valuation and, at the option of the company, may be used for purposes
				of determining the minimum standard of valuation for any individual annuity or
				pure endowment contract issued on or after July 1, 1984.
B. The 1983 Table "a" is to be used for
				determining the minimum standard of valuation for any individual annuity or
				pure endowment contract issued on or after the effective date of this
				regulation.
Miss. Code Ann. §
										83-7-25
				  (Rev 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 8 - (84-105) Recognizing Certain 1983 Mortality Tables To Be Used When Determining the Minimum Standard of Valuation for Annuity and Pure Endowment Contracts › Rule 19-2-8.05 - Group Annuity or Pure Endowment Contracts

Current through June 25, 2024
The 1983 GAM Table and the 1983 Table "a" are recognized and
				  approved as group annuity mortality tables for valuation and, at the option of
				  the company, either table may be used for purposes of valuation for any annuity
				  or pure endowment purchased on or after July 1, 1984 under a group annuity or
				  pure endowment contract.
The 1983 GAM Table is to be used for determining the minimum
				  standard of valuation for any annuity or pure endowment purchased on or after
				  the effective date of this regulation under a group annuity or pure endowment
				  contract.
Miss. Code Ann. §
										83-7-25
				  (Rev 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 8 - (84-105) Recognizing Certain 1983 Mortality Tables To Be Used When Determining the Minimum Standard of Valuation for Annuity and Pure Endowment Contracts › Rule 19-2-8.06 - Separability

Current through June 25, 2024
If any provision of this Rule or the application thereof to
				  any person or circumstances is for any reason held to be invalid, the remainder
				  of the regulation and the application of such provision to other persons or
				  circumstances shall not be affected thereby.
Miss. Code Ann. §
										83-5-1
				  (Rev 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 8 - (84-105) Recognizing Certain 1983 Mortality Tables To Be Used When Determining the Minimum Standard of Valuation for Annuity and Pure Endowment Contracts › Rule 19-2-8.07 - Effective Date

Current through June 25, 2024
The effective date of this Regulation shall be thirty (30)
				  days from and after its adoption and filing with the Secretary of State of the
				  State of Mississippi.
PROMULGATED AND ADOPTED this the _____ day of __________ ,
				  1984.
Miss. Code Ann. §
										25-43-3.113(Rev
				  2010)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 8 - (84-105) Recognizing Certain 1983 Mortality Tables To Be Used When Determining the Minimum Standard of Valuation for Annuity and Pure Endowment Contracts › Rule 19-2-8.08 - For Mississippi Model Regulation for Determining Reserve Liabilities for Group Annuities: Appendix 1:1983 GAM Table-Males

Current through June 25, 2024
AGE
q
5
.000342
6
.000318
7
.000302
8
.000294
9
.000292
10
.000293
11
.000298
12
.000304
13
.000310
14
.000317
15
.000325
16
.000333
17
.000343
18
.000353
19
.000365
20
.000377
21
.000392
22
.000408
23
.000424
24
.000444
25
.000464
26
.000488
27
.000513
28
.000542
29
.000572
30
.000607
31
.000645
32
.000687
33
.000734
34
.000785
35
.000860
36
.000907
37
.000966
38
.001039
39
.001128
40
.001238
41
.001370
42
.001527
43
.001715
44
.001932
45
.002183
46
.002471
47
.002790
48
.003138
49
.003513
50
.003909
51
.004324
52
.004755
53
.005200
54
.005660
55
.006131
56
.006618
57
.007139
58
.007719
59
.008384
60
.009158
61
.010064
62
.011133
63
.012391
64
.013868
65
.015592
66
.017579
67
.019804
68
.022229
69
.024817
70
.027530
71
.030354
72
.033370
73
.036680
74
.040388
75
.044597
76
.049388
77
.054758
78
.060678
79
.067125
80
.074070
81
.081484
82
.089320
83
.097525
84
.106047
85
.114836
86
.124170
87
.133870
88
.144073
89
.154859
90
.166307
91
.178214
92
.190460
93
.203007
94
.217904
95
.234086
96
.248436
97
.263954
98
.280803
99
.299154
100
.319185
101
.341086
102
.365052
103
.393102
104
.427255
105
.469531
106
.521945
107
.586518
108
.665268
109
.760215
110
1.000000
Miss. Code Ann. §
										83-7-25
				  (Rev 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 8 - (84-105) Recognizing Certain 1983 Mortality Tables To Be Used When Determining the Minimum Standard of Valuation for Annuity and Pure Endowment Contracts › Rule 19-2-8.09 - For Mississippi Model Regulation for Determining Reserve Liabilities for Group Annuities: Appendix 1: 1983 GAM Table-Females

Current through June 25, 2024
AGE
q
5
.000171
6
.000140
7
.000118
8
.000104
9
.000097
10
.000096
11
.000104
12
.000113
13
.000121
14
.000131
15
.000140
16
.000149
17
.000159
18
.000168
19
.000179
20
.000189
21
.000201
22
.000212
23
.000225
24
.000238
25
.000252
26
.000268
27
.000282
28
.000301
29
.000320
30
.000342
31
.000364
32
.000388
33
.000414
34
.000443
35
.000476
36
.000502
37
.000535
38
.000573
39
.000617
40
.000665
41
.000716
42
.000775
43
.000841
44
.000919
45
.001010
46
.001117
47
.001237
48
.001366
49
.001505
50
.001647
51
.001793
52
.001948
53
.002119
54
.002315
55
.002541
56
.002803
57
.003103
58
.003442
59
.003821
60
.004241
61
.004702
62
.005210
63
.005769
64
.006385
65
.007064
66
.007817
67
.008681
68
.009702
69
.010921
70
.012385
71
.014128
72
.016159
73
.018481
74
.021091
75
.023992
76
.027184
77
.030672
78
.034459
79
.038549
80
.042945
81
.047655
82
.052691
83
.058071
84
.063807
85
.069918
86
.076570
87
.084459
88
.091935
89
.101354
90
.111750
91
.123076
92
.135630
93
.149577
94
.165103
95
.182419
96
.201757
97
.222043
98
.243899
99
.268185
100
.295187
101
.325225
102
.358897
103
.395842
104
.438360
105
.487816
106
.545886
107
.614309
108
.694884
109
.789474
110
1.000000
Miss. Code Ann. §
										83-7-25
				  (Rev 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 8 - (84-105) Recognizing Certain 1983 Mortality Tables To Be Used When Determining the Minimum Standard of Valuation for Annuity and Pure Endowment Contracts › Rule 19-2-8.10 - For Mississippi Model Regulationfor Determining Reserve Liabilities for Group Annuities: Appendix 1:1983 Table "A"-Males/Females

Current through June 25, 2024
Age
Males
Females
5
0.377
0.194
6
0.350
0.160
7
0.333
0.134
8
0.352
0.134
9
0.368
0.136
10
0.382
0.141
11
0.394
0.147
12
0.405
0.155
13
0.415
0.165
14
0.425
0.175
15
0.435
0.188
16
0.446
0.201
17
0.458
0.214
18
0.472
0.229
19
0.488
0.244
20
0.505
0.260
21
0.525
0.276
22
0.546
0.293
23
0.570
0.311
24
0.596
0.330
25
0.622
0.349
26
0.650
0.368
27
0.677
0.387
28
0.704
0.405
29
0.731
0.423
30
0.759
0.441
31
0.786
0.460
32
0.814
0.479
33
0.843
0.499
34
0.876
0.521
35
0.917
0.545
36
0.968
0.574
37
1.032
0.607
38
1.114
0.646
39
1.216
0.691
40
1.341
0.742
41
1.492
0.801
42
1.673
0.867
43
1.886
0.942
44
2.129
1.026
45
2.399
1.122
46
2.693
1.231
47
3.009
1.356
48
3.343
1.499
49
3.694
4.657
50
4.057
1.830
51
4.431
2.016
52
4.812
2.215
53
5.198
2.426
54
5.591
2.650
55
5.994
2.891
56
6.409
3.151
57
6.839
3.432
58
7.290
3.739
59
7.782
4.081
60
8.338
4.467
61
8.983
4.908
62
9.740
5.413
63
10.630
5.990
64
11.664
6.633
65
12.851
7.336
66
14.199
8.090
67
15.717
8.888
68
17.414
9.731
69
19.296
10.653
70
21.371
11.697
71
23.647
12.905
72
26.131
14.319
73
28.835
15.980
74
31.794
17.909
75
35.046
20.127
76
38.631
22.654
77
42.587
25.509
78
46.951
28.717
79
51.755
32.328
80
57.026
36.395
81
62.791
40.975
82
69.081
46.121
83
75.908
51.889
84
83.230
58.336
85
90.987
65.513
86
99.122
73.493
87
107.577
82.318
88
116.316
92.017
89
125.394
102.491
90
134.887
113.605
91
144.873
125.227
92
155.429
137.222
93
166.629
149.462
94
178.537
161.834
95
191.214
174.228
96
204.721
186.535
97
219.120
198.646
98
234.735
211.102
99
251.889
224.445
100
270.906
239.215
101
292.111
255.9583
102
315.826
275.201
103
342.377
297.500
104
372.086
323.390
105
405.278
353.414
106
442.277
388.111
107
483.406
428.023
108
528.989
473.692
109
579.351
525.658
110
634.814
584.462
111
695.704
650.646
112
762.343
724.750
113
835.056
807.316
114
914.167
898.885
115
1000.00
1000.00
Miss. Code Ann. §
										83-7-25
				  (Rev 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 9 - (84-106) Universal Life Regulation › Rule 19-2-9.01 - Preamble and Authority

Current through June 25, 2024
I, George Dale, duly elected Commissioner of Insurance of the
				  State of Mississippi, pursuant to the authority granted in me in Section
				  83-7-25,
				  Mississippi Code of 1972, as Amended, and in accordance with Sections 25-43-1
				  through 25-43-19, Mississippi Code of 1972, known as the Mississippi
				  Administrative Procedure Law, do hereby promulgate the following Rules and
				  Regulation with an effective date as herein set forth in Section 9.12, upon
				  compliance with the applicable statutes.
Miss. Code Ann.
				  §§
										83-5-1;
				  83-7-23; 83-7-25 (Rev 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 9 - (84-106) Universal Life Regulation › Rule 19-2-9.02 - Purpose

Current through June 25, 2024
The purpose of this regulation is to supplement existing
				  regulations on life insurance policies in order to accommodate the development
				  and issuance of universal life insurance plans.
Miss. Code Ann.
				  §§
										83-5-1;
				  83-7-23; 83-7-25 (Rev 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 9 - (84-106) Universal Life Regulation › Rule 19-2-9.03 - Definitions

Current through June 25, 2024
As used in this regulation:
A. Universal Life Insurance Policy.
"Universal life insurance policy" means any individual life
				  insurance policy under the provisions of which separately identified interest
				  credits (other than in connection with dividend accumulations, premium deposit
				  funds, or other supplementary accounts) and mortality and expense charges are
				  made to the policy. A universal life insurance policy may provide for other
				  credits and charges, such as charges for the cost of benefits provided by
				  rider.
B. Flexible Premium Universal Life Insurance Policy.
"Flexible premium universal life insurance policy" means a
				  universal life insurance policy which permits the policyowner to vary,
				  independently of each other, the amount or timing of one or more premium
				  payments or the amount of insurance.
C. Fixed Premium Universal Life Insurance Policy.
"Fixed premium universal life insurance policy" means a
				  universal life insurance policy other than a flexible premium universal life
				  insurance policy.
D. Interest-Indexed Universal Life Insurance Policy.
"Interest-indexed universal life insurance policy" means any
				  universal life insurance policy where the interest credits are linked to an
				  external referent.
E. Net Cash Surrender Value.
"Net Cash Surrender Value" means the maximum amount payable
				  to the policyowner upon surrender.
F.
Cash Surrender Value.
"Cash Surrender Value" means the Net Cash Surrender Value
				  plus any amounts outstanding as policy loans.
G. Policy Value.
"Policy Value" means the amount of which separately
				  identified interest credits and mortality, expense, or other charges are made
				  under a universallife insurance policy.
H. May.
"May" is permissive.
I. Shall.
"Shall" is mandatory.
J. Commissioner.
"Commissioner" means the Commissioner of Insurance for the
				  State of Mississippi.
Miss. Code Ann. §
										83-5-1(Rev.
				  2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 9 - (84-106) Universal Life Regulation › Rule 19-2-9.04 - Scope

Current through June 25, 2024
This regulation encompasses all individual universal life
				  insurance policies except those policies defined under Section 2(s) of the
				  Mississippi Variable Life Insurance Regulation Number 84-101.
Miss. Code Ann. §
										83-5-1(Rev.
				  2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 9 - (84-106) Universal Life Regulation › Rule 19-2-9.07 - Mandatory Policy Provisions

Current through June 25, 2024
The policy shall provide the following:
A. Periodic Disclosure to Policyowner.
The policy shall provide that the policy owner will be sent,
				  without charge, at least annually, a report which will serve to keep such
				  policy owner advised as to the status of the policy. The end of the current
				  report period must be not more than three months previous to the date of the
				  mailing of the report. Specific requirements of this report are detailed in
				  Section 9.
B. Illustrative
				Reports.
The policy shall provide for an illustrative report which
				  will be sent to the policy owner upon request. Minimum requirements of such
				  report are the same as those set forth in Section 8. The insurer may charge the
				  policy owner a reasonable fee for providing the report.
C. Policy Guarantees.
The policy shall provide guarantees of minimum interest
				  credits and maximum mortality and expense charges. All values and data shown in
				  the policy shall be based on guarantees. No figures based on non-guarantees
				  shall be included in the policy.
D. Calculation of Cash Surrender Values.
The policy shall contain at least a general description of
				  the calculation of cash surrender values including the following
				  information:
1. The guaranteed maximum
				expense charges and loads.
2. Any
				limitations on the crediting of additional interest. Interest credits shall not
				remain conditional for a period longer than twenty-four (24) months.
3. The guaranteed minimum rate or rates of
				interest.
4. The guaranteed maximum
				mortality charges.
5. Any other
				guaranteed charges.
6. Any
				surrender or partial withdrawal charges.
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 9 - (84-106) Universal Life Regulation › Rule 19-2-9.08 - Disclosure Requirements

Current through June 25, 2024
A. In connection
				with any advertising, solicitation, negotiation, or procurement of a universal
				life insurance policy:
1. Any statement of
				policy cost factors or benefits shall contain:
a. The corresponding guaranteed policy cost
				factors or benefits, clearly identified.
b. A statement explaining the nonguaranteed
				nature of any current interest rates, charges, or other fees applied to the
				policy, including the insurer's rights to alter any of these factors.
c. Any limitations on the crediting of
				interest, including identification of those portions of the policy to which a
				specified interest rate shall be credited.
(Note: Policy cost factors are those amounts which affect the
				  price per thousand of life insurance coverage of other benefits. They include:
				  interest, mortality, expense charges and fees, including any surrender or
				  withdrawal charges, but not persistency assumptions.)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 9 - (84-106) Universal Life Regulation › Rule 19-2-9.09 - Periodic Disclosure to Policy owner

Current through June 25, 2024
A. Requirements.
The policy shall provide that the policy owner will be sent,
				  without charge, at least annually, a report which will serve to keep such
				  policy owner advised of the status of the policy. The end of the current report
				  period shall be not more than three months previous to the date of the mailing
				  of the report.
Such report shall include the following:
1. The beginning and end of the current
				report period.
2. The policy value
				at the end of the previous report period and at the end of the current report
				period.
3. The total amounts which
				have been credited or debited to the policy value during the current report
				period, identifying each by type (e.g., interest, mortality, expense and
				riders).
4. The current death
				benefit at the end of the current report period on each life covered by the
				policy.
5. The net cash surrender
				value of the policy as of the end of the current report period.
6. The amount of outstanding loans, if any,
				as of the end of the current report period.
7. For fixed premium policies:
If, assuming guaranteed interest, mortality and expense loads
				  and continued scheduled premium payments, the policy's net cash surrender value
				  is such that it would not maintain insurance in force until the end of the next
				  reporting period, a notice to this effect shall be included in the
				  report.
8. For flexible
				premium policies:
If, assuming guaranteed interest, mortality and expense
				  loads, the policy's net cash surrender value will not maintain insurance in
				  force until the end of the next reporting period unless further premium
				  payments are made, a notice to this effect shall be included in the
				  report.
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 9 - (84-106) Universal Life Regulation › Rule 19-2-9.10 - Interest-Indexed Universal Life Insurance Policies

Current through June 25, 2024
A.
				Initial Filing Requirements.
The following information shall be submitted in connection
				  with any filing of interest-indexed universal life insurance policies
				  ("interest-indexed policies"). All such information received shall be treated
				  confidentially to the extent permitted by law.
1. A description of how the interest credits
				are determined, including:
a. a description
				of the index.
b. the relationship
				between the value of the index and the actual interest rate to be
				credited.
c. the frequency and
				timing of determining the interest rate.
d. the allocation of interest credits, if
				more than one rate of interest applies to different portions of the policy
				value.
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 9 - (84-106) Universal Life Regulation › Rule 19-2-9.11 - Separability

Current through June 25, 2024
If any provision of this rule or the application thereof to
				  any person or circumstance is for any reason held to be invalid, the remainder
				  of the rule and the application of such provision to other persons or
				  circumstances shall not be affected thereby.
Miss. Code Ann. §
										83-5-1(Rev.
				  2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 9 - (84-106) Universal Life Regulation › Rule 19-2-9.12 - Effective Date

Current through June 25, 2024
This regulation shall become effective thirty (30) days after
				  its adoption and filing with the Mississippi Secretary of State's Office, as
				  required by law.
PROMULGATED AND ADOPTED, this the 13th day of August,
				  1984.
Miss. Code Ann. §
										25-43-3.113
				  (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 10 - (89-102) Regulation of Certain Payments with Respect to Credit Life and Credit Disability Insurance › Rule 19-2-10.01 - Statutory Authority

Current through June 25, 2024
This Regulation is promulgated by the Commissioner of
				  Insurance pursuant to the authority granted by Mississippi Code Annotated,
				  Sections
				  83-53-29,
				  83-17-229 and in accordance with the Mississippi Administrative Procedures Law.
				  Section
				  83-53-29
				  grants the Commissioner authority to "issue any rules and regulations that he
				  deems necessary to effectuate the purposes of this chapter (the credit
				  insurance chapter of the Mississippi Code Annotated)." Section 83-17-129 states
				  that the "Commissioner is hereby authorized to establish such rules and
				  regulations as shall be necessary for the administration of this article (the
				  article of the Mississippi Code Annotated entitled "Regulation of Agents for
				  Life, Health, or Accident Insurers")." Section 83-17-229 provides that "the
				  employees or officers of a lending institution or holding company, or the
				  subsidiary or affiliate of a lending institution or holding company, may be
				  licensed to sell credit life, health and accident insurance on behalf of his
				  employer in accordance with regulations promulgated by the insurance
				  commissioner." This Regulation is promulgated by the Commissioner pursuant to
				  his full authority to regulate the payment of compensation to agents and to
				  others in connection with the sale of credit insurance as set out in the above
				  statutes.
Miss. Code Ann. §
										83-53-29
				  (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 10 - (89-102) Regulation of Certain Payments with Respect to Credit Life and Credit Disability Insurance › Rule 19-2-10.03 - Applicability and Scope

Current through June 25, 2024
This Regulation shall apply to all insurers and agents
				  licensed to sell credit life and credit disability insurance and to the
				  employers and affiliates of such agents acting as creditors, including lending
				  institutions and other entities covered by the Lending Institutions Act
				  (Mississippi Code Annotated, Sections 83-17-227 through 83-17-223), in credit
				  transactions in connection with which there is a sale or purchase of a policy
				  or certificate of credit life or credit disability insurance.
Miss. Code Ann. §
										83-53-29
				  (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 10 - (89-102) Regulation of Certain Payments with Respect to Credit Life and Credit Disability Insurance › Rule 19-2-10.04 - Definitions

Current through June 25, 2024
A. "Creditor" shall have the same meaning as
				defined in Mississippi Code Annotated, Section
				83-53-3(2)(d).
B. "Credit insurance" shall mean the credit
				life insurance as defined in Mississippi Code Annotated, Section
				83-53-3(2)(b)
				and credit disability insurance as defined in Mississippi Code Annotated,
				Section
				83-53-3(2)(c).
C. "Compensation" shall have the same meaning
				as defined in Mississippi Code Annotated, Section
				83-53-25(2)
				and (3).
D. "Insurer" shall have the same meaning as
				defined in Mississippi Code Annotated, Section
				83-53-3(2)(g).
E. "Lending institution" shall have the same
				meaning as defined in Mississippi Code Annotated, Section
				83-17-227(a).
F. "Holding company"
				shall have the same meaning as defined in Mississippi Code Annotated, Section
				83-17-227(c).
Miss. Code Ann.
				  §§
										83-53-3
				  and
				  83-53-29
				  (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 10 - (89-102) Regulation of Certain Payments with Respect to Credit Life and Credit Disability Insurance › Rule 19-2-10.05 - Regulation of Certain Payments in Connection with the Sale of Credit Life and Credit Disability Insurance

Current through June 25, 2024
Compensation paid in connection with the purchase or sale of
				  credit insurance may be paid (i) by an insurer to a person or other entity
				  licensed as an agent to write credit insurance, (ii) by an insurer to the
				  creditor in the transaction in connection with which the credit insurance was
				  purchased or sold, or (iii) by an employee or other person or entity licensed
				  to write credit insurance to the creditor in the transaction in connection with
				  which the credit insurance was purchased or sold, or (iv) by an insurer or by
				  an employee or other person or entity licensed to write credit insurance to a
				  lending institution or a holding company or the subsidiary or affiliate of a
				  lending institution or holding company. Nothing herein shall be construed as
				  permitting the total compensation paid in connection with the purchase or sale
				  of credit insurance to exceed the amount otherwise permitted by law. Nothing
				  herein shall be construed as permitting the offer or sale or issuance of a
				  policy or certificate of credit insurance other than by an authorized insurer
				  or through an agent licensed to write credit insurance.
Miss. Code Ann. §
										83-53-29
				  (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 10 - (89-102) Regulation of Certain Payments with Respect to Credit Life and Credit Disability Insurance › Rule 19-2-10.06 - Severability

Current through June 25, 2024
If any provision of any section of this regulation or the
				  application thereof to any circumstance or person or entity is held invalid,
				  such invalidity shall not affect any other provision of that section or
				  application of the regulation which can be given effect without the invalid
				  provision or application, and to this end the provision of this regulation are
				  declared to be severable.
Miss. Code Ann. §
										83-53-29
				  (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 10 - (89-102) Regulation of Certain Payments with Respect to Credit Life and Credit Disability Insurance › Rule 19-2-10.07 - Effective Date

Current through June 25, 2024
This Regulation shall become effective July 1,
				  1989.
Miss. Code Ann. §
										25-43-3.113
				  (Rev. 2010)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 11 - Credit Life and Credit Disability Experience Refunds › Rule 19-2-11.01 - Statutory Authority

Current through June 25, 2024
This Regulation is promulgated by the Commissioner of
				  Insurance pursuant to the authority granted by
Miss. Code
				  Ann
., Section
				  83-53-29
				  and
				  83-53-25(4) as
				  amended, and in accordance with the Mississippi Administrative Procedures
				  law.
Miss. Code Ann.
				  §§
										83-53-29;
				  83-53-25(4)(Supp. 2014)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 11 - Credit Life and Credit Disability Experience Refunds › Rule 19-2-11.02 - Purpose

Current through June 25, 2024
Miss. Code Ann
., Section
				  83-53-25(3)(c) as
				  amended, permits the payment, allocation or accrual of experience refunds by an
				  insurer pursuant to a written experience refund agreement which are paid only
				  with respect to earned premium produced by or attributable to the creditor or
				  licensed agent designated to receive such experience refund. In addition,
				  Section 83-52-25(4)provides the Commissioner has authority to reduce and/or
				  adjust experience refunds in accordance with the provisions of paragraphs (c)
				  and (d) of subsection (3) of Section
				  83-53-25.
				  The specific purposes of this Regulation are to regulate the payment of
				  experience refunds and to eliminate devices designed to avoid or render
				  ineffective the provisions of
Miss. Code Ann
. Section
				  83-53-1
				  et seq.; to ensure that amounts paid to a creditor or licensed agent as
				  experience refunds are based upon earned experience written or produced by the
				  agent.
Miss. Code Ann. §
										83-53-25
				  (Supp. 2014)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 11 - Credit Life and Credit Disability Experience Refunds › Rule 19-2-11.03 - Applicability

Current through June 25, 2024
This Regulation shall apply to all insurers selling credit
				  insurance and their agents.
Miss. Code Ann. §
										83-53-29
				  (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 11 - Credit Life and Credit Disability Experience Refunds › Rule 19-2-11.04 - Regulation of Experience Refunds Paid Pursuant to Experience Refund Agreements

Current through June 25, 2024
Experience Refunds may be paid, allocated or accrued by an
				  insurer pursuant to a written experience refund agreement and may be paid only
				  with respect to earned premiums produced by or attributable to the creditor or
				  licensed agent designated to receive such experience refund; provided however,
				  that:
A. All such experience refund
				agreements shall be on a form approved in writing by the Commissioner and shall
				be filed with the Commissioner prior to use. A sample form recommended by the
				Commissioner is attached hereto as Exhibit "A".
B. All such experience refunds shall be
				calculated using only statutory accounting methods.
C. All such experience refund calculations
				shall be made in accordance with the requirements of the form which is attached
				hereto as Exhibit "B", said form having been prescribed by the Commissioner and
				which provides for, inter alia, the deduction of claims incurred, premium taxes
				incurred, compensation paid, and expenses incurred during the preceding
				calendar year.
D. All such
				experience refunds shall be paid annually within thirty (30) days following the
				filing of the insurer's annual statement with the Department of Insurance.
No experience refund may be paid if the insurer is insolvent
				  or has capital or surplus less than the legal minimum or if the payment of the
				  experience refund would render the insurer insolvent or result in the insurer's
				  capital or surplus being less than the legal
				  minimum.
Miss. Code Ann. §
										83-53-29
				  (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 11 - Credit Life and Credit Disability Experience Refunds › Rule 19-2-11.05 - Effective Date

Current through June 25, 2024
This Regulation shall become effective thirty (30) days after
				  filing with the Office of the Secretary of State.
Miss. Code Ann. §
										25-43-3.113
				  (Rev. 2010)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 11 - Credit Life and Credit Disability Experience Refunds › Rule 19-2-11.06 - Experience Refund Agreement- Exhibit A

Current through June 25, 2024
The Agent shall be entitled to receive an Experience Refund
				  on the underwriting profit attributable to the credit insurance account covered
				  by the Agency Agreement between the Agent and the Company. The Experience
				  Refund shall be calculated according to the following formula:
At the end of each calendar year for which premiums were
				  received under the Agency Agreement, the earned credit life and credit
				  disability premiums will be determined. Earned premiums are defined as the net
				  written premiums received less the increase in premium reserves. Premium
				  reserves are calculated as follows:
(1) for decreasing credit life, the sum of
				the digits method is used;
(2) for
				level credit life, the pro rata method is used;
(3) for credit disability the sum of the
				digits method is used.From the earned premiums, the following will be deducted:
a. Claims incurred during the calendar year.
				Claims incurred are defined as claims paid plus the increase in:
(1) claims due and unpaid;
(2) claims in course of settlement;
(3) claims incurred but not yet
				reported; and
(4) present value of
				amounts not yet due on claims.
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 11 - Credit Life and Credit Disability Experience Refunds › Rule 19-2-11.07 - Experience Refund Agreement- Exhibit B

Current through June 25, 2024
EXPERIENCE REFUND AGREEMENT
1. Net written premiums
				_______________________
2. Premium
				Reserves - beginning of period _______________________
3. Premium Reserves - end of period
				_______________________
4. Earned
				premiums [1+2-3] _______________________
5. Claims paid
				_______________________
6. Claims
				due and unpaid and in course of settlement - Beginning of period
				_______________________
7. Claims
				due and unpaid and in course of settlement - End of period
				_______________________
8. Claims
				incurred but not reported - beginning of period
				_______________________
9. Claims
				incurred but not reported - end of period _______________________
10. Present value of claims not yet due -
				beginning of period _______________________
11. Present value of claims not yet due - end
				of period _______________________
12. Incurred claims [5-6+7-8+9-10+11]
				_______________________
13. Premium
				taxes paid _______________________
14. Premium taxes due and unpaid - beginning
				of period _______________________
15. Premium taxes due and unpaid - end of
				period _______________________
16.
				Earned premium taxes [13-14+15] _______________________
17. Compensation paid or earned during period
				_______________________
18.
				Expenses Incurred _______________________
19. Experience refund receivable from prior
				year _______________________
20.
				UNDERWRITING PROFIT DUE [4-12-16-17-18-19] _______________________
21. Percentage due Agent
				_______________________
22.
				EXPERIENCE REFUND DUE [20x11] _______________________
Miss. Code Ann. §
										83-53-29
				  (Supp. 2014)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 2 - Life Insurance › Chapter 12 - (94-103) Credit Life and Credit Accident and Health Insurance › Rule 19-2-12.01 - Purpose and Authority

Current through June 25, 2024
As a result of some concerns that the Mississippi Department
				  of Insurance has relating to the credit life and credit accident and health
				  insurance industry in the State of Mississippi, the Commissioner of Insurance
				  believes that it would be in the best interest of the public of this State as
				  well as the credit life and credit accident and health insurance companies
				  operating in this State that this office promulgate this regulation to assist
				  in the removal of any potential confusion or misunderstanding concerning Title
				  83, Chapter 53 of the 1972
Mississippi Code
as revised
				  in 1991. This regulation is adopted pursuant to the provisions of
Miss. Code Ann
. §§ 25- 43-1 and
				  83-53-29(Rev. 1991). Major concerns which will be addressed by this regulation
				  are as follows:
A. To ensure the proper
				payment of claims and/or refunds.
B. That the insurance company ensures that
				sufficient documentation and records are maintained so that it can be
				determined if the refunds are calculated correctly and paid to the proper
				parties.
C. To put insurance
				companies operating in this State, on notice that they are responsible to make
				certain that all refunds are calculated correctly and paid to the proper
				parties.
D. That the proper refunds
				of any unearned premiums and any other fees are made to the appropriate
				parties.
E. To ensure that the
				insurance companies refunding mechanisms correspond with what has been filed
				with the Mississippi Department of Insurance.
Miss. Code Ann. §
										83-53-29
				  (Rev. 2011)