New York Codes, Rules and Regulations › Title 11 - INSURANCE › Chapter IV - Financial Condition Of Insurer and Reports to Superintendent › Subchapter B - Life Insurers › Part 100 - Recognition of The 2001 Cso Mortality Table and the 2017 Cso Mortality Table for Use in Determining Minimum Reserve Liabilities And Nonforfeiture Benefits and Recognition and Application of Preferred Mortality Tables for Use in Determining Minimum Reserve Liabilities › Section 100.3 - Definitions

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
2001
				  CSO Mortality Table
means that mortality table, consisting of separate
				  rates of mortality for male and female lives, developed by the American Academy
				  of Actuaries CSO Task Force from the Valuation Basic Mortality Table developed
				  by the Society of Actuaries Individual Life Insurance Valuation Mortality Task
				  Force, and adopted by the NAIC in December 2002. These tables are included in
				  Appendix 25 of this Title as Tables 1-24. Unless the context indicates
				  otherwise, the "2001 CSO Mortality Table" includes both the ultimate form of
				  that table and the select and ultimate form of that table and includes both the
				  smoker and nonsmoker mortality tables and the composite mortality tables. It
				  also includes both the age-nearest-birthday and age-lastbirthday bases of the
				  mortality tables.
(b)
2001
				  CSO Mortality Table (F)
means that mortality table consisting of the
				  rates of mortality for female lives from the 2001 CSO Mortality Table.
(c)
2001 CSO Mortality
				  Table (M)
means that mortality table consisting of the rates of
				  mortality for male lives from the 2001 CSO Mortality Table.
(d) 2001 CSO
Preferred Class
				  Structure Mortality Table
means that mortality table with separate
				  rates of mortality for super preferred nonsmoker, preferred nonsmoker, residual
				  standard nonsmoker, preferred smoker, and residual standard smoker splits of
				  the 2001 CSO Nonsmoker and Smoker tables, developed by Tillinghast for the
				  American Council of Life Insurers, and adopted by the NAIC in September 2006.
				  These tables are included in Appendix 25A of this Part as Tables 1-40. Unless
				  the context indicates otherwise, the 2001 CSO Preferred Class Structure
				  Mortality Table includes both the ultimate form of that table and the select
				  and ultimate form of that table. It includes the smoker and nonsmoker mortality
				  tables. It includes both the male and female mortality tables. It also includes
				  both the age-nearest-birthday and age-last-birthday bases of the mortality
				  table.
(e)
2001 Valuation
				  Basic Preferred Class Structure Mortality Table (2001 VBT)
means that
				  mortality table with separate rates of mortality for super preferred
				  nonsmokers, preferred nonsmokers, residual standard nonsmokers, preferred
				  smokers, and residual standard smoker splits of the 2001 Valuation Basic
				  Mortality Nonsmoker and Smoker tables, developed by Tillinghast for the
				  American Council of Life Insurers, and adopted by the NAIC in September 2006.
				  These tables are included in Appendix 25B of this Part as Tables 1-
				  40.
(f)
2017 CSO Mortality
				  Table
means that mortality table, consisting of separate rates of
				  mortality for male and female lives, developed by the CSO Subgroup of the Joint
				  American Academy of Actuaries Life Experience Committee and Society of
				  Actuaries Preferred Mortality Oversight Group from the Valuation Basic
				  Mortality Table developed by the joint group's Valuation Basic Mortality
				  Subgroup, and adopted by the NAIC in April 2016. These tables are included in
				  Appendix 25C of this Part as Tables 1-24. Unless the context indicates
				  otherwise, the "2017 CS O Mortality Table" includes both:
(1) the ultimate form of that table and the
				  select and ultimate form of that table;
(2) the smoker and nonsmoker mortality tables
				  and the composite mortality tables; and
(3) the age-nearest-birthday and
				  age-last-birthday bases of th e mortality tables.