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 100.4 - 2001 CSO Mortality Table and 2017 CSO Mortality Table

Current through Register Vol. 46, No. 28, July 10, 2024
(a) At the election of the insurer for any
				  one or more specified plans of insurance and subject to the conditions stated
				  in this Part, the 2001 CSO Mortality Table may be used as the minimum mortality
				  standard for policies issued on or after January 1, 2004 and before the date
				  specified in subdivision (b) of this section to which Insurance Law sections
				  4217(c)(2)(A)(iii) and
				  4221(k)(9)(B)(vi) and
				  section
				  98.4(a)
				  and (b)  of this Title are applicable. If the
				  insurer elects to use the 2001 CSO Mortality Table, it shall do so for both
				  valuation and nonforfeiture purposes.
(b) Subject to the conditions stated in this
				  Part, the 2001 CSO Mortality Table shall be used in determining minimum
				  mortality standards for policies issued on and after January 1, 2009 and before
				  the date specified in subdivision (e) of this section, to which Insurance Law
				  sections
				  4217(c)(2)(A)(iii) and
				  4221(k)(9)(B)(vi) and
				  section
				  98.4(a)
				  and (b)  of this Title are
				  applicable.
(c) There is no new
				  Commissioners Extended Term (CET) Table being proposed to replace the 1980 CET
				  Table. Therefore, the new minimum mortality standard for the computation of
				  values related to extended term benefits will be the 2001 CSO Mortality
				  Table.
(d) At the election of the
				  insurer for any one or more specified plans of insurance and subject to the
				  conditions stated in this Part, the 2017 CSO Mortality Table may be used as the
				  minimum mortality standard for policies issued on or after January 1, 2017 and
				  before the date specified in subdivision (e) of this section to which Insurance
				  Law sections
				  4217(c)(2)(A)(iii) and
				  4221(k) (9)(B)(vi) and
				  section
				  98.4(a)
				  and (b)  of this Title are applicable. If the
				  insurer elects to use the 2017 CSO Mortality Table, it shall do so for both
				  valuation and nonforfeiture purposes.
(e) Subject to the conditions stated in this
				  Part, the 2017 CSO Mortality Table shall be used in determining minimum
				  mortality standards for policies, excluding guaranteed issue life insurance
				  policies, issued on and after January 1, 2020, to which Insurance Law sections
				  4217(c)(2)(A)(iii) and
				  4221(k)(9)(B)(vi) and
				  section 98.4(a) and (b)  of this Title are applicable.
(f) Subject to the conditions stated in this
				  Part, the ultimate form of the 2001 CSO Mortality Table shall be used in
				  determining minimum mortality standards for guaranteed issue life insurance
				  policies issued on or after January 1, 2020 to which Insurance Law sections
				  4217(c)(2)(A)(iii) and
				  4221(k)(9)(B)(vi) and
				  section 98.4(a) and (b)  of this Title are applicable.