Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 107 - Regulation 84-Recognition and Selection of Applicable CSO Mortality Table in Determining Minimum Reserve Liabilities and Nonforfeiture Benefits › Section XIII-10713 - Gender-Blended Tables

Current through Register Vol. 50, No. 6, June 20, 2024
A. For any
				ordinary life insurance policy delivered or issued for delivery in this state
				on and after January 1, 2005, through December 31, 2016, that utilizes the same
				premium rates and charges for male and female lives or is issued in
				circumstances where applicable law does not permit distinctions on the basis of
				gender, a mortality table that is a blend of the 2001 CSO Mortality Table (M)
				and the 2001 CSO Mortality Table (F) may, at the option of the company for each
				plan of insurance, be substituted for the 2001 CSO Mortality Table for use in
				determining minimum cash surrender values and amounts of paid-up nonforfeiture
				benefits. No change in minimum valuation standards is implied by this
				Subsection of the regulation.
B.
				For any ordinary life insurance policy delivered or issued for delivery in this
				state on and after January 1, 2017, until the operative date of VM-20 as
				established by the NAIC, that utilizes the same premium rates and charges for
				male and female lives or is issued in circumstances where applicable law does
				not permit distinctions on the basis of gender, a mortality table that is a
				blend of the 2017 CSO Mortality Table (M) and the 2017 CSO Mortality Table (F)
				may, at the option of the company for each plan of insurance, be substituted
				for the 2017 CSO Mortality Table for use in determining minimum cash surrender
				values and amounts of paid-up nonforfeiture benefits. No change in minimum
				valuation standards is implied by this Subsection of the regulation.
C. For any ordinary life insurance policy
				delivered or issued for delivery in this state on and after the operative date
				of VM-20 as established by the NAIC, that utilizes the same premium rates and
				charges for male and female lives or is issued in circumstances where
				applicable law does not permit distinctions on the basis of gender, a mortality
				table that is prescribed in VM-20 that is a blend of the prescribed mortality
				tables male and female rates may, at the option of the company for each plan of
				insurance, be substituted for the prescribed mortality table for use in
				determining minimum cash surrender values and amounts of paid-up nonforfeiture
				benefits. No change in minimum valuation standards is implied by this
				Subsection of the regulation.
D.
				The company may choose from among the blended tables developed by the American
				Academy of Actuaries CSO Task Force and adopted by the NAIC in December
				2002.
E. It shall not, in and of
				itself, be a violation of
				R.S.
				22:1211 et seq. for an insurer to issue the
				same kind of policy of life insurance on both a sex-distinct and sex-neutral
				basis.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.22:11,
				  22:753,
				  22:936
				  and the Administrative Procedure Act,
				  R.S.
				  49:950 et
				  seq.