reglab/statecodes huggingface dataset:
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 32 - Blended Mortality Tables › Section 32-3 - Definitions

Current through July 10, 2024
Authority: IC 27-1-3-7
Affected: IC 27-1-12-7; IC 27-1-12-10
Sec. 3.
(a) "1980 CSO
				Table, with or without Ten-Year Select Mortality Factors" means that mortality
				table, consisting of separate rates of mortality for male and female lives,
				developed by the Society of Actuaries Committee to Recommend New Mortality
				Tables for Valuation of Standard Individual Ordinary Life Insurance,
				incorporated in the 1980 NAIC Amendments to the Model Standard Valuation Law
				and Standard Nonforfeiture Law for Life Insurance, and referred to in those
				models as the Commissioners 1980 Standard Ordinary Mortality Table, with or
				without Ten-Year Select Mortality Factors.
(b) "1980 CSO Table (M), with or without
				Ten-Year Select Mortality Factors" means that mortality table consisting of the
				rates of mortality for male lives from the 1980 CSO Table, with or without
				Ten-Year Select Mortality Factors.
(c) "1980 CSO Table (F), with or without
				Ten-Year Select Mortality Factors" means that mortality table consisting of the
				rates of mortality for female lives from the 1980 CSO Table, with or without
				Ten-Year Select Mortality Factors.
(d) "1980 CET Table" means that mortality
				table consisting of separate rates of mortality for male and female lives,
				developed by the Society of Actuaries Committee to Recommend New Mortality
				Tables for Valuation of Standard Individual Ordinary Life Insurance,
				incorporated in the 1980 NAIC Amendments to the Model Standard Valuation Law
				and Standard Nonforfeiture Law for Life Insurance, and referred to in those
				models as the Commissioners 1980 Extended Term Insurance Table.
(e) "1980 CET Table (M)" means that mortality
				table consisting of the rates of mortality for male lives from the 1980 CET
				Table.
(f) "1980 CET Table (F)"
				means that mortality table consisting of the rates of mortality for female
				lives from the 1980 CET Table.
(g)
				"1980 CSO and 1980 CET Smoker and Nonsmoker Mortality Tables" mean the
				mortality tables with separate rates of mortality for smokers and nonsmokers
				derived from the 1980 CSO and 1980 CET Mortality Tables by the Society of
				Actuaries Task Force on Smoker/Nonsmoker Mortality and adopted by the NAIC in
				December 198Sec. 3.
(h) "Operative
				date" for a policy form means that date, after the election date described
				below, on which the form is filed with this department.
NOTE: A company elects to use 1980 CSO Mortality Tables in
				  Indiana by filing an election letter with the department, said letter including
				  an election date and providing that all company filings of any policy forms
				  submitted after the election date shall utilize 1980 CSO
				  Tables.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 32 - Blended Mortality Tables › Section 32-4 - Acceptable tables

Current through July 10, 2024
Authority: IC 27-1-3-7
Affected: IC 27-1-12-7; IC 27-1-12-10
Sec. 4.
For any policy of insurance on the life of either a male or
				  female insured delivered or issued for delivery in this state after the
				  operative date of IC 27-1-12-7(dd)(11) for that policy form,
(1) a mortality table which is a blend of the
				1980 CSO Table (M) and the 1980 CSO Table (F) 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
(2) a mortality table which is of the same
				blend as used in (1) but applied to form a blend of the 1980 CET Table (M) and
				the 1980 CET Table (F) 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 tables will be considered as the basis for
				  acceptable tables:
(A) 100% Male 0%
				Female for tables to be designated as the "1980 CSO-A" and "1980 CET-A"
				tables.
(B) 80% Male 20% Female for
				tables to be designated as the "1980 CSO-B" and "1980 CET-B" tables.
(C) 60% Male 40% Female for tables to be
				designated as the "1980 CSO-C" and "1980 CET-C" tables.
(D) 50% Male 50% Female for tables to be
				designated as the "1980 CSO-D" and "1980 CET-D" tables.
(E) 40% Male 60% Female for tables to be
				designated as the "1980 CSO-E" and "1980 CET-E" tables.
(F) 20% Male 80% Female for tables to be
				designated as the "1980 CSO-F" and "1980 CET-F" tables.
(G) 0% Male 100% Female for tables to be
				designated as the "1980 CSO-G" and "1980 CET-G" tables.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 32 - Blended Mortality Tables › Section 32-5 - Sex distinct and sex neutral bases for same kind of policy

Current through July 10, 2024
Authority: IC 27-1-3-7
Affected: IC 27-1-12-7; IC 27-4-1-4
Sec. 5.
It shall not be in violation of IC 27-4-1-4(7)(a) for an
				  insurer to issue the same kind of policy of life insurance on both sex distinct
				  and sex neutral bases.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 32 - Blended Mortality Tables › Section 32-6 - Separability

Current through July 10, 2024
Authority: IC 27-1-3-7
Affected: IC 27-1-12-7
Sec. 6.
If any provision of this rule
[ 760 IAC 1-32 ]
or the application thereof to any person or circumstance 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.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 32 - Blended Mortality Tables › Section 32-7 - Effective date

Current through July 10, 2024
Authority: IC 27-1-3-7
Affected: IC 27-1-12-7
Sec. 7.
The effective date of this rule
[ 760 IAC 1-32 ]
is August 1, 1984.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 32 - Blended Mortality Tables › Section 32-9 - Appendix II; select factors for blended 1980 CSO mortality tables; December 4, 1983

Current through July 10, 2024
Authority: IC 27-1-3-7
Affected: IC 27-1-12-7
Sec. 9.
The select factors for use with the 1980 CSO tables are
				  different for males and females but select factors for use with the blended
				  1980 CSO tables must themselves be blended.
The tables of ratios of male lx to total lx shown in the
				  report of our committee indicate that for most of the insuring ages the ratios
				  of males and females in the blended tables do not differ significantly from the
				  ratio at the pivotal age. This suggests that the pivotal age ratio can be used
				  for all ages.
The select factors must also be weighted for the relative
				  male and female mortality rates. Considering the nature of the select factors
				  and the need for a practicable solution, it seems reasonable to assume that
				  female mortality is 60% of male mortality. Using the pivotal age ratios (=z)
				  and assuming female mortality is 60% of male mortality the blended factors can
				  be obtained from:
ZFtT
				  = [Z/100 × FtM + 0.6
				  (1-Z/100)FtF] ÷ [Z/100 + 0.6
				  (1-Z/100)]
Where Z is the ratio % at the pivotal age of lx male to lx
				  total and FtM and
				  FtF are the male and female
				  selection factors for year t and
				  ZFtT
				  is the selection factor applicable to the blended CSO table having Z% male lx
				  to total lx at the pivotal age.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 33 - Variable Life Insurance › Section 33-1 - Authority

Current through July 10, 2024
Authority: IC 27-1-3-7
Affected: IC 27-1-3-7; IC 27-1-5-1; IC 27-1-12-7
Sec. 1.
760 IAC 1-33 applicable to variable life insurance policies
				  is promulgated under the authority of IC
				  27-1-3-7 of
				  the insurance laws of Indiana, and is effective upon promulgation.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 33 - Variable Life Insurance › Section 33-3 - Qualification of insurers

Current through July 10, 2024
Authority: IC 27-1-3-7
Affected: IC 27-1-12-7
Sec. 3.
The following requirements are applicable to all insurers
				  either seeking authority to issue variable life insurance in this state or
				  having authority to issue variable life insurance in this state.
(1) Licensing and approval to do business in
				this state. An insurer shall not deliver or issue for delivery in this state
				any variable life insurance policy unless:
(A)
				The insurer is licensed or organized to do a life insurance business in this
				state.
(B) The insurer has obtained
				the written approval of the commissioner for the issuance of variable life
				insurance policies in this state. The commissioner shall grant such written
				approval only after he has found that:
(i) The
				plan of operation for the issuance of variable life insurance policies is not
				unsound.
(ii) The general
				character, reputation, and experience of the management and those persons or
				firms proposed to supply consulting, investment, administrative, or custodial
				services to the insurer are such as to reasonably assure competent operation of
				the variable life insurance business of the insurer in this state.
(iii) The present and forseeable future
				financial condition of the insurer and its method of operation in connection
				with the issuance of such policies is not likely to render its operation
				hazardous to the public or its policyholders in this state. The commissioner
				shall consider, among other things:
(AA) The
				history of operation and financial condition of the insurer.
(BB) The qualifications, fitness, character,
				responsibility, reputation, and experience of the officers and directors and
				other management of the insurer and those persons or firms proposed to supply
				consulting, investment, administrative, or custodial services to the
				insurer.
(CC) The applicable law
				and regulations under which the insurer is authorized in its state of domicile
				to issue variable life insurance policies. The state of entry of an alien
				insurer shall be deemed its state of domicile for this purpose.
(DD) If the insurer is a subsidiary of, or is
				affiliated by common management or ownership with another company, its
				relationship to such other company and the degree to which the requesting
				insurer, as well as the other company, meet these standards.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 33 - Variable Life Insurance › Section 33-4 - Insurance policy requirements

Current through July 10, 2024
Authority: IC 27-1-3-7
Affected: IC 27-1-12-7; IC 27-1-12.3-1
Sec. 4.
Policy qualification. The commissioner shall not approve any
				  variable life insurance form filed pursuant to 760 IAC 1-33 unless it conforms
				  to the requirements of this section.
(b) Filing of variable life insurance
				policies. All variable life insurance policies, and all riders, endorsements,
				applications, and other documents which are to be attached to and made a part
				of the policy and which relate to the variable nature of the policy, shall be
				filed with the commissioner and approved by him prior to delivery or issuance
				for delivery in this state.
(1) The procedures
				and requirements for such filing and approval shall be, to the extent
				appropriate and not inconsistent with 760 IAC 1-33, the same as those otherwise
				applicable to other life insurance policies.
(2) The commissioner may approve variable
				life insurance policies and related forms with provisions the commissioner
				deems to be not less favorable to the policyholder and the beneficiary than
				those required by 760 IAC 1-33.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 33 - Variable Life Insurance › Section 33-6 - Separate accounts

Current through July 10, 2024
Authority: IC 27-1-3-7
Affected: IC 27-1-5-1; IC 27-1-12-7
Sec. 6.
(a) The
				following requirements apply to the establishment and administration of
				variable life insurance separate accounts by any domestic insurer.
(b) Establishment and administration of
				separate accounts. Any domestic insurer issuing variable life insurance shall
				establish one (1) or more separate accounts pursuant to IC 27-1-5-1 Class 1(c)
				of the insurance law of this state.
(1) If no
				law or other regulation provides for the custody of separate account assets and
				if such insurer is not the custodian of such separate account assets, all
				contracts for custody of such assets shall be in writing and the commissioner
				shall have authority to review and approve of both the terms of any such
				contract and the proposed custodian prior to the transfer of custody.
(2) Such insurer shall not without the prior
				written approval of the commissioner employ in any material connection with the
				handling of separate account asset any person who:
(A) within the last ten (10) years has been
				convicted of any felony or a misdemeanor arising out of such person's conduct
				involving embezzlement, fraudulent conversion, or misappropriation of funds or
				securities or involving violation of Sections 1341, 1342, or 1343 of Title 18,
				United States Code; or
(B) within
				the last ten (10) years has been found by any state regulatory authority to
				have violated or has acknowledged violation of any provision of any state
				insurance law involving fraud, deceit, or knowing misrepresentation;
				or
(C) within the last ten (10)
				years has been found by federal or state regulatory authorities to have
				violated or has acknowledged violation of any provision of federal or state
				securities laws involving fraud, deceit, or knowing
				misrepresentation.
(3)
				All persons with access to the cash, securities, or other assets of the
				separate account shall be under bond in the amount of not less than
				$10,000.
(4) The assets of such
				separate accounts shall be valued at least as often as variable benefits are
				determined but in any event at least monthly.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 33 - Variable Life Insurance › Section 33-7 - Disclosures to applicants

Current through July 10, 2024
Authority: IC 27-1-3-7
Affected: IC 27-1-12-7
Sec. 7.
An insurer delivering or issuing for delivery in this state
				  any variable life insurance policies shall deliver to the applicant for the
				  policy, and obtain a written acknowledgment of receipt from such applicant
				  coincident with or prior to the execution of the application, the following
				  information. The requirements of this section shall be deemed to have been
				  satisfied to the extent that a disclosure containing information required by
				  this section is delivered, either in the form of (1) a prospectus included in
				  the requirements of the Securities Act of 1933 and which was declared effective
				  by the Securities and Exchange Commission; or (2) all information and reports
				  required by the Employee Retirement Income Security Act of 1974 if the policies
				  are exempted from the registration requirements of the Securities Act of 1933
				  pursuant to Section 3(a)(2) thereof.
(1) A summary explanation, in non-technical
				terms, of the principal features of the policy, including a description of the
				manner in which the variable benefits will reflect the investment experience of
				the separate account and the factors which affect such variation. Such
				explanation must include notices of the provision required by
				760 IAC
				1-33-4(d)(1)(E) and (d)(6).
(2) A statement of the investment policy of
				the separate account, including:
(A) a
				description of the investment objectives intended for the separate account and
				the principal types of investments intended to be made; and
(B) any restriction or limitations on the
				manner in which the operations of the separate account are intended to be
				conducted.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 33 - Variable Life Insurance › Section 33-8 - Application for policy

Current through July 10, 2024
Authority: IC
				  27-1-3-7
Affected: IC
				  27-1-12-7
Sec. 8.
The application for a variable life insurance policy shall
				  contain:
(1) a prominent statement
				that the death benefit may be variable or fixed under specified
				conditions;
(2) a prominent
				statement that cash values may increase or decrease in accordance with the
				experience of the separate account (subject to any specified minimum
				guarantees);
(3) questions designed
				to elicit information which enables the insurer to determine the suitability of
				variable life insurance for the applicant.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 33 - Variable Life Insurance › Section 33-9 - Reports to policyholders

Current through July 10, 2024
Authority: IC 27-1-3-7
Affected: IC 27-1-12-7
Sec. 9.
Any insurer delivering or issuing for delivery in this state
				  any variable life insurance policies shall mail to each variable life insurance
				  policyholder at his or her last known address the following reports:
(1) Within thirty (30) days after each
				anniversary of the policy, a statement or statements of the cash surrender
				value, death benefit, any partial withdrawal or policy loan, any interest
				charge, any optional payments allowed pursuant to
				760 IAC 1-33-4(e)
				 under the policy computed as of the policy
				anniversary date. Provided, however, that such statement may be furnished
				within thirty (30) days after a specified date in each policy year so long as
				the information contained therein is computed as of a date not more than sixty
				(60) days prior to the mailing of such notice. This statement shall state that,
				in accordance with the investment experience of the separate account, the cash
				values and the variable death benefit may increase or decrease, and shall
				prominently identify any value described therein which may be recomputed prior
				to the next statement required by this section. If the policy guarantees that
				the variable death benefit on the next policy anniversary date will not be less
				than the variable death benefit specified in such statement, the statement
				shall be modified to so indicate. For flexible premium policies, the report
				must contain a reconciliation of the change since the previous report in cash
				value and cash surrender value, if different, because of payments made (less
				deductions for expense charges), withdrawals, investment experience, insurance
				charges and any other charges made against the cash value. In addition, the
				report must show the projected cash value and cash surrender value, if
				different, as of one (1) year from the end of the period covered by the report
				assuming that:
(i) planned periodic premiums,
				if any, are paid as scheduled,
(ii)
				guaranteed costs of insurance are deducted, and
(iii) the net investment return is equal to
				the guaranteed rate or, in the absence of a guaranteed rate, is not greater
				than zero (0). If the projected value is less than zero (0), a warning message
				must be included that states that the policy may be in danger of terminating
				without value in the next twelve (12) months unless additional premium is
				paid.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 33 - Variable Life Insurance › Section 33-10 - Foreign companies; compliance with foreign law

Current through July 10, 2024
Authority: IC 27-1-3-7
Affected: IC 27-1-12-7
Sec. 10.
If the law or regulation in the place of domicile of a
				  foreign company provides a degree of protection to the policyholders and the
				  public which is substantially similar to that provided by 760 IAC 1-33, the
				  commissioner to the extent deemed appropriate by him in his discretion, may
				  consider compliance with such law or regulation as compliance with 760 IAC
				  1-33.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 33 - Variable Life Insurance › Section 33-12 - Severability

Current through July 10, 2024
Authority: IC 27-1-3-7
Affected: IC 27-1-12-7
Sec. 12.
If any provision of 760 IAC 1-33 or the application thereof
				  to any person or circumstance is for any reason held to be invalid, the
				  remainder of 760 IAC 1-33 and the application of such provision to other
				  persons or circumstances shall not be affected thereby.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 34 - Unfair Discrimination on the Basis of Blindness or Partial Blindness › Section 34-1 - Authority to promulgate rule

Current through July 10, 2024
Authority: IC 27-1-3-7
Affected: IC 27-1-3-7; IC 27-4-1-4; IC 27-4-1-8
Sec. 1.
This rule
[ 760 IAC 1-34 ]
is adopted and
				  promulgated pursuant to IC
				  27-1-3-7.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 34 - Unfair Discrimination on the Basis of Blindness or Partial Blindness › Section 34-2 - Purpose of rule

Current through July 10, 2024
Authority: IC 27-1-3-7
Affected: IC 27-4-1-4; IC 27-4-1-8
Sec. 2.
The purpose of this regulation
[ 760 IAC 1-34 ]
is to identify specific acts or practices, in addition to those
				  defined in IC
				  27-4-1-4,
				  which are prohibited as unfair or deceptive.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 34 - Unfair Discrimination on the Basis of Blindness or Partial Blindness › Section 34-3 - Unfairly discriminatory acts or practices

Current through July 10, 2024
Authority: IC
				  27-1-3-7
Affected: IC
				  27-4-1-4;
				  IC
				  27-4-1-8
Sec. 3.
The following are hereby identified as acts or practices
				  which constitute unfair discrimination between individuals of the same class:
				  Refusing to insure, or refusing to continue to insure, or limiting the amount,
				  extent or kind of coverage available to an individual, or charging an
				  individual a different rate for the same coverage, solely because of blindness
				  or partial blindness.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 35 - New Annuity Mortality Tables › Section 35-2 - Purpose of rule

Current through July 10, 2024
Authority: IC
				  27-1-3-7
Affected: IC 27-1-12
Sec. 2.
The purpose of this rule is to recognize the following
				  mortality tables for use in determining the minimum standard of valuation for
				  annuity and pure endowment contracts:
(1) The 1983 Table "a".
(2) The 1983 GAM Table.
(3) The Annuity 2000 Mortality
				Table.
(4) The 1994 GAR
				Table.
(5) The 2012 IAR
				Table.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 35 - New Annuity Mortality Tables › Section 35-3 - Definitions

Current through July 10, 2024
Authority: IC
				  27-1-3-7
Affected: IC 27-1-12
Sec. 3.
The following definitions apply throughout this rule:
(1) "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 NAIC.
(2) "1983 Group Annuity Mortality Table" or
				"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 NAIC. (3) "1994 Group Annuity Reserving
				Table" or "1994 GAR Table" means that mortality table developed by the Society
				of Actuaries Group Annuity Valuation Table Task Force and shown on pages 866
				through 867 of Volume XLVII of the Transactions of the Society of Actuaries
				(1995).
(4) "2012 Individual
				Annuity Mortality Period Life Table" or "2012 IAM Period Table" means the
				period table containing loaded mortality rates for calendar year 2012 and
				containing rates, qx
									2012,
				developed by the Society of Actuaries Committee on Life Insurance
				Research.
(5) "2012 Individual
				Annuity Reserving Table" or "2012 IAR Table" means that generational mortality
				table developed by the Society of Actuaries Committee on Life Insurance
				Research and containing rates, qx
									2012+n, derived from a combination of the 2012 IAM
				Period Table and Projection Scale G2.
(6) "Annuity 2000 Mortality Table" means that
				mortality table developed by the Society of Actuaries Committee on Life
				Insurance Research and shown on page 240 of Volume XLVII of the Transactions of
				the Society of Actuaries (1995).
(7) "Generational mortality table" means a
				mortality table containing a set of mortality rates that decrease for a given
				age from one year to the next based on a combination of a period table and a
				projection scale containing rates of mortality improvement.
(8) "NAIC" means the National Association of
				Insurance Commissioners.
(9)
				"Period table" means a table of mortality rates applicable to a given calendar
				year.
(10) "Projection Scale G2" or
				"Scale G2" is a table of annual rates, G2x, of mortality
				improvement by age for projecting future mortality rates beyond calendar year
				2012. This table was developed by the Society of Actuaries Committee on Life
				Insurance.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 35 - New Annuity Mortality Tables › Section 35-3.5 - Incorporation by reference

Current through July 10, 2024
Authority: IC
				  27-1-3-7
Affected: IC 27-1-12
Sec. 3.5.
The following mortality tables set forth in the NAIC Model
				  Laws, Regulations and Guidelines, Vol. VI, pages 821-5 through 821-8,
				  Appendices I through IV, NAIC Model Rule (Regulation) for Recognizing a New
				  Annuity Mortality Table for Use in Determining Reserve Liabilities for
				  Annuities (January 2013) are hereby incorporated by reference as if fully set
				  out herein:
(1) Appendix I (2012 IAM
				Period Table, Female, Age Nearest Birthday).
(2) Appendix II (2012 IAM Period Table, Male,
				Age Nearest Birthday).
(3) Appendix
				III (Projection Scale G2, Female, Age Nearest Birthday).
(4) Appendix IV (Projection Scale G2, Male,
				Age Nearest Birthday).
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 35 - New Annuity Mortality Tables › Section 35-4 - Individual annuity or pure endowment contracts

Current through July 10, 2024
Authority: IC
				  27-1-3-7
Affected: IC 27-1-12
Sec. 4.
(a) Except as
				provided in subsections (b) and (c), 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 August 31, 1979.
(b) Except as provided in subsection (c),
				either the 1983 Table "a" or the Annuity 2000 Mortality Table shall be used for
				determining the minimum standard of valuation for any individual annuity or
				pure endowment contract issued on or after January 1, 1987.
(c) Except as provided in subsection (d), the
				Annuity 2000 Mortality Table shall be used for determining the minimum standard
				of valuation for any individual annuity or pure endowment contract issued on or
				after December 31, 1999.
(d) The
				2012 IAR Table shall be used for determining the minimum standard of valuation
				for any individual annuity or pure endowment contract issued on or after
				January 1, 2015.
(e) The 1983 Table
				"a" without projection is to be used for determining the minimum standards of
				valuation for an individual annuity or pure endowment contract issued on or
				after December 31, 1999, solely when the contract is based on life
				contingencies and is issued to fund periodic benefits arising from any of the
				following:
(1) Settlements of various forms of
				claims pertaining to court settlement or out of court settlement from tort
				actions.
(2) Settlements involving
				similar actions, such as worker's compensation claims.
(3) Settlement of long term disability claims
				where a temporary or life annuity has been used in lieu of continuing
				disability payments.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 35 - New Annuity Mortality Tables › Section 35-4.5 - Application of the 2012 IAR Table

Current through July 10, 2024
Authority: IC
				  27-1-3-7
Affected: IC 27-1-12
Sec. 4.5.
In using the 2012 IAR Table, the mortality rate for a person
				  age x in year (2012 + n) is calculated as follows:
Click here
				  to view Image
The resulting
				  qx2012+n shall be rounded to
				  three decimal places per 1,000, e.g., 0.741 deaths per 1,000. Also, the
				  rounding shall occur according to the formula above, starting at the 2012
				  period table rate.
For example, for a male age 30, qx
									2012 = 0.741.
qx
									2013=
				  0.741 * (1 - 0.010) ^ 1 = 0.73359, which is rounded to 0.734.
qx
									2014=
				  0.741 * (1 - 0.010) ^ 2 = 0.7262541, which is rounded to 0.726.
A method leading to incorrect rounding would be to calculate
				  qx
									2014 as
				  qx
									2013 * (1 - 0.010), or
				  0.734 * 0.99 = 0.727. It is incorrect to use the already rounded
				  qx
									2013 to calculate
				  qx
									2014.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 35 - New Annuity Mortality Tables › Section 35-5 - Group annuity or pure endowment contracts

Current through July 10, 2024
Authority: IC 27-1-3-7
Affected: IC 27-1-12-10
Sec. 5.
(a) Except as
				provided in subsections (b) and (c), the 1983 GAM Table, the 1983 Table "a",
				and the 1994 GAR Table are recognized and approved as group annuity mortality
				tables for valuation and, at the option of the company, any one (1) of these
				tables may be used for purposes of valuation for an annuity or pure endowment
				purchased on or after August 31, 1979, under a group annuity or pure endowment
				contract.
(b) Except as provided in
				subsection (c), the 1983 GAM Table or the 1994 GAR Table shall be used for
				determining the minimum standard of valuation for any annuity or pure endowment
				purchased on or after January 1, 1987, under a group annuity or pure endowment
				contract.
(c) The 1994 GAR Table
				shall be used for determining the minimum standard of valuation for any annuity
				or pure endowment purchased on or after December 31, 1999, under a group
				annuity or pure endowment contract.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 35 - New Annuity Mortality Tables › Section 35-5.5 - Application of the 1994 GAR table

Current through July 10, 2024
Authority: IC 27-1-3-7
Affected: IC 27-1-12-10
Sec. 5.5.
In using the 1994 GAR Table, the mortality rate for a person
				  x years of age in year (1994 + n) is calculated as follows:
qx1994+n =
				  qx1994 (1 -
				  AAx)n
where the
				  qx1994 and
				  AAxs are as specified in the 1994 GAR
				  Table.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 35 - New Annuity Mortality Tables › Section 35-6 - Severability of rule

Current through July 10, 2024
Authority: IC 27-1-3-7
Affected: IC 27-1-12-10
Sec. 6.
If any provision of this rule
[ 760 IAC 1-35 ]
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.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 36 - Smoker/Nonsmoker Mortality Tables › Section 36-1 - Authority to promulgate rule

Current through July 10, 2024
Authority: IC 27-1-3-7
Affected: IC 27-1-12-7; IC 27-1-12-10
Sec. 1.
This rule
[ 760 IAC 1-36 ]
is promulgated
				  pursuant to IC 27-1-3-7.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 36 - Smoker/Nonsmoker Mortality Tables › Section 36-2 - Purpose of rule

Current through July 10, 2024
Authority: IC 27-1-3-7
Affected: IC 27-1-12-7; IC 27-1-12-10
Sec. 2.
The purpose of this rule
[ 760 IAC 1-36 ]
is
				  to permit the use of mortality tables that reflect differences in mortality
				  between smokers and nonsmokers in determining minimum reserve liabilities and
				  minimum cash surrender values and amounts of paid-up nonforfeiture benefits for
				  plans of insurance with separate premium rates for smokers and
				  nonsmokers.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 36 - Smoker/Nonsmoker Mortality Tables › Section 36-4 - Applicable tables

Current through July 10, 2024
Authority: IC 27-1-3-7
Affected: IC 27-1-12-7; IC 27-1-12-10
Sec. 4.
(a) For any
				policy of insurance delivered or issued for delivery in this state after the
				operative date for that policy form which occurs after the effective date of
				this rule
[ 760 IAC 1-36 ]
and before January 1, 1989, at the
				option of the company and subject to the conditions stated in section 5 of this
				rule
[
				760 IAC 1-36-5
				]
,
(1) the 1958 CSO Smoker and
				Nonsmoker Mortality Tables may be substituted for the 1980 CSO Table, with or
				without Ten-Year Select Mortality Factors, and
(2) the 1958 CET Smoker and Nonsmoker
				Mortality Tables may be substituted for the 1980 CET Table for use in
				determining minimum reserve liabilities and minimum cash surrender values and
				amounts of paid-up nonforfeiture benefits.
Provided that for any category of insurance issued on female
				  lives with minimum reserve liabilities and minimum cash surrender values and
				  amounts of paid-up nonforfeiture benefits determined using the 1958 CSO or 1958
				  CET Smoker and Nonsmoker Mortality Tables, such minimum values may be
				  calculated according to an age not more than six years younger than the actual
				  age of the insured.
Provided further that the substitution of the 1958 CSO or
				  1958 CET Smoker and Nonsmoker Mortality Tables is available only if made for
				  each policy of insurance on a policy form delivered or issued for delivery on
				  or after the operative date for that policy form which occurs after the
				  effective date of this rule
[ 760 IAC 1-36 ]
and before a date
				  not later than January 1, 1989.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 36 - Smoker/Nonsmoker Mortality Tables › Section 36-5 - Use of tables

Current through July 10, 2024
Authority: IC 27-1-3-7
Affected: IC 27-1-12-7; IC 27-1-12-10
Sec. 5.
For each plan of insurance with separate rates for smokers
				  and nonsmokers an insurer may:
(1)
				use composite mortality tables to determine minimum reserve liabilities and
				minimum cash surrender values and amounts of paid-up nonforfeiture
				benefits,
(2) use smoker and
				nonsmoker mortality tables to determine the valuation net premiums and
				additional minimum reserves, if any, required by IC 27-1-12-10(6) and use
				composite mortality tables to determine the basic minimum reserves, minimum
				cash surrender values and amounts of paid-up nonforfeiture benefits,
				or
(3) use smoker and nonsmoker
				mortality to determine minimum reserve liabilities and minimum cash surrender
				values and amounts of paid-up nonforfeiture benefits.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 36 - Smoker/Nonsmoker Mortality Tables › Section 36-6 - Severability of rule

Current through July 10, 2024
Authority: IC 27-1-3-7
Affected: IC 27-1-12-7; IC 27-1-12-10
Sec. 6.
If any provision of this rule
[ 760 IAC 1-36 ]
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.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 38.1 - Group Coordination of Benefits › Section 38.1-1 - Purpose; applicability

Current through July 10, 2024
Authority: IC
				  27-1-3-7
Affected: IC
				  27-8-5-19
Sec. 1.
The purpose of this rule is to:
(1) permit, but not require, plans to include
				a coordination of benefits provision;
(2) establish an order in which plans pay
				their claims;
(3) provide the
				authority for the orderly transfer of information needed to pay claims
				promptly;
(4) reduce duplication of
				benefits by permitting a reduction of the benefits paid by a plan when the
				plan, pursuant to these rules, does not have to pay its benefits
				first;
(5) reduce claims payment
				delays; and
(6) make all contracts
				that contain a coordination of benefits provision consistent with this
				rule.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 38.1 - Group Coordination of Benefits › Section 38.1-2 - "Allowable expenses" defined

Current through July 10, 2024
Authority: IC
				  27-1-3-7
Affected: IC
				  27-8-5-19
Sec. 2.
(a) As used
				in this rule, "allowable expenses" means any health care expense, including:
(1) coinsurance or copayments; and
(2) without reduction for any applicable
				deductible; that is covered at least in part under any of the plans covering
				the person, except where a statute requires a different definition.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 38.1 - Group Coordination of Benefits › Section 38.1-2.5 - "Birthday" defined

Current through July 10, 2024
Authority: IC
				  27-1-3-7
Affected: IC
				  27-8-5-19
Sec. 2.5.
As used in this rule, "birthday" refers only to the month
				  and day in a calendar year. The term does not include the year in which the
				  individual is born.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 38.1 - Group Coordination of Benefits › Section 38.1-3 - "Claim" defined

Current through July 10, 2024
Authority: IC
				  27-1-3-7
Affected: IC
				  27-8-5-19
Sec. 3.
As used in this rule, "claim" means a request that benefits
				  of a plan be provided or paid. A claim may be for any of the following:
(1) Services (including supplies).
(2) Payment for all or a portion of the
				expenses incurred.
(3) A
				combination of subdivisions (1) and (2).
(4) An indemnification.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 38.1 - Group Coordination of Benefits › Section 38.1-4.3 - "Closed panel plan" defined

Current through July 10, 2024
Authority: IC
				  27-1-3-7
Affected: IC
				  27-8-5-19
Sec. 4.3.
As used in this rule, "closed panel plan" means a plan that
				  provides health benefits to covered persons primarily in the form of services
				  through a panel of providers that have been contracted with or are employed by
				  the plan. The term excludes benefits for services provided by other providers,
				  except in cases of emergency or referral by a panel member.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 38.1 - Group Coordination of Benefits › Section 38.1-4.7 - "Consolidated Omnibus Budget Reconciliation Act of 1985" or "COBRA" defined

Current through July 10, 2024
Authority: IC
				  27-1-3-7
Affected: IC
				  27-8-5-19
Sec. 4.7.
As used in this rule, "Consolidated Omnibus Budget
				  Reconciliation Act of 1985" or "COBRA" means coverage provided under a right of
				  continuation pursuant to federal law.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 38.1 - Group Coordination of Benefits › Section 38.1-5 - "Coordination of benefits" or "COB" defined

Current through July 10, 2024
Authority: IC
				  27-1-3-7
Affected: IC
				  27-8-5-19
Sec. 5.
As used in this rule, "coordination of benefits" or "COB"
				  means a provision:
(1) establishing an
				order in which plans pay their claims; and
(2) permitting secondary plans to reduce
				their benefits so that the combined benefits do not exceed the total allowable
				expenses.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 38.1 - Group Coordination of Benefits › Section 38.1-5.2 - "Custodial parent" defined

Current through July 10, 2024
Authority: IC
				  27-1-3-7
Affected: IC
				  27-8-5-19
Sec. 5.2.
As used in this rule, "custodial parent" means:
(1) the parent awarded custody of a child for
				more than one-half (1/2) of the calendar year by a court decree; or
(2) in the absence of a court decree, the
				parent with whom the child resides more than one-half (1/2) of the calendar year
				without regard to any temporary visitation.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 38.1 - Group Coordination of Benefits › Section 38.1-5.6 - "Group-type contract" defined

Current through July 10, 2024
Authority: IC
				  27-1-3-7
Affected: IC
				  27-8-5-19
Sec. 5.6.
As used in this rule, "group-type contract" means a contract
				  that is:
(1) not available to the
				general public; and
(2) obtained
				and maintained only because of:
(A) membership
				in; or
(B) a connection with; a
				particular organization or group, including blanket coverage. The term does not
				include any individually underwritten and issued guaranteed renewable policy
				even if the policy is purchased through payroll deduction at a premium savings
				to the insured since the insured would have the right to maintain or renew the
				policy independently of continued employment with the employer.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 38.1 - Group Coordination of Benefits › Section 38.1-5.8 - "High-deductible health plan" defined

Current through July 10, 2024
Authority: IC
				  27-1-3-7
Affected: IC
				  27-8-5-19
Sec. 5.8.
As used in this rule, "high-deductible health plan" has the
				  meaning given the term under Section 223 of the Internal Revenue Code of 1986,
				  as amended by the Medicare Prescription Drug Improvement and Modernization Act
				  of 2003.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 38.1 - Group Coordination of Benefits › Section 38.1-6 - "Hospital indemnity benefits" defined

Current through July 10, 2024
Authority: IC
				  27-1-3-7
Affected: IC
				  27-8-5-19
Sec. 6.
As used in this rule, "hospital indemnity benefits" means
				  benefits not related to expenses incurred. The term does not include
				  reimbursement-type benefits even if they are designed or administered to give
				  the insured the right to elect indemnity-type benefits at the time of claim.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 38.1 - Group Coordination of Benefits › Section 38.1-7 - "Plan" defined

Current through July 10, 2024
Authority: IC
				  27-1-3-7
Affected: IC
				  27-8-5-19
Sec. 7.
(a) As used
				in this rule, "plan" means a form of coverage with which coordination is
				allowed. Separate parts of a plan for members of a group that are:
(1) provided through alternative contracts;
				and
(2) intended to be part of a
				coordinated package of benefits; are considered one (1) plan, and there is no
				COB among the separate parts of the plan. If a plan coordinates benefits, the
				definition of plan in the group contract must state the types of coverage that
				will be considered in applying the coordination of benefits provision of that
				contract. The right to include a type of coverage is limited by subsections (b)
				through (d).
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 38.1 - Group Coordination of Benefits › Section 38.1-7.5 - "Policyholder" defined

Current through July 10, 2024
Authority: IC
				  27-1-3-7
Affected: IC
				  27-8-5-19
Sec. 7.5.
As used in this rule, "policyholder" means the primary
				  insured named in a nongroup insurance policy.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 38.1 - Group Coordination of Benefits › Section 38.1-8 - "Primary plan" defined

Current through July 10, 2024
Authority: IC
				  27-1-3-7
Affected: IC
				  27-8-5-19
Sec. 8.
As used in this rule, "primary plan" means a plan whose
				  benefits for a person's health care coverage must be determined without taking
				  the existence of any other plan into consideration. A plan is a primary plan if
				  either of the following conditions are true:
(1) The plan either has:
(A) no order of benefit determination rules;
				or
(B) rules that differ from those
				permitted by this rule.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 38.1 - Group Coordination of Benefits › Section 38.1-9 - "Secondary plan" defined

Current through July 10, 2024
Authority: IC
				  27-1-3-7
Affected: IC
				  27-8-5-19
Sec. 9.
As used in this rule, "secondary plan" means a plan that is
				  not a primary plan.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 38.1 - Group Coordination of Benefits › Section 38.1-11 - Model coordination of benefits provision; prohibited coordination; benefit design

Current through July 10, 2024
Authority: IC
				  27-1-3-7
Affected: IC
				  27-8-5-19
Sec. 11.
(a) A model
				coordination of benefits provision for use in group contracts, contained as
				Appendix A to the Group Coordination of Benefits Model Regulation as adopted
				and amended in April 2005, by the National Association of Insurance
				Commissioners (NAIC) (2005 Proc. I), appearing in the NAIC Model Insurance
				Laws, Regulations and Guidelines, Vol. I, pages 120-14 through 120-19, is
				hereby adopted by reference, as if fully set out in this rule.
(b) A group contract's coordination of
				benefits provision does not have to use the words and format shown in the model
				provision adopted by reference in subsection (a). Changes may be made to:
(1) fit the language and style of the rest of
				the group contract; or
(2) reflect
				the difference among plans that:
(A) provide
				services;
(B) pay benefits for
				expenses incurred; and
(C)
				indemnify.
No substantive changes are allowed.
Indiana Administrative Code › Title 760 - DEPARTMENT OF INSURANCE › Article 1 - GENERAL PROVISIONS › Rule 38.1 - Group Coordination of Benefits › Section 38.1-12 - Order of benefits; general and nondependent/dependent

Current through July 10, 2024
Authority: IC
				  27-1-3-7
Affected: IC
				  27-8-5-19
Sec. 12.
(a) When a
				person is covered by two (2) or more plans, the primary plan must pay or
				provide its benefits as if the secondary plan or plans did not exist. The
				following apply:
(1) If the:
(A) primary plan is a closed panel plan;
				and
(B) secondary plan is not a
				closed panel plan; the secondary plan shall pay or provide benefits as if it
				were the primary plan when a covered person uses a nonpanel provider, except
				for emergency services or authorized referrals that are paid or provided by the
				primary plan.