Pennsylvania Code › Title 31 - INSURANCE › Part IV - Life Insurance › Chapter 84 - TABLES APPROVED FOR USE IN DETERMINING MINIMUM NONFORFEITURE STANDARDS AND MINIMUM STANDARDS FOR VALUATION › Section 84.5 - 1980 CSO and 1980 CET Tables, including Smoker and Nonsmoker Tables, with Mortality Rates Independent of Sex

Current through Register Vol. 54, No. 28, July 13, 2024
(a)
				Tables designated 1980 CSO-A, 1980 CSO-B, 1980 CSO-C, 1980 CSO-D, 1980 CSO-E,
				1980 CSO-F, and 1980 CSO-G, with or without Ten-Year Select Mortality Factors,
				were adopted as recognized mortality tables for life insurance in December 1983
				by the NAIC.
(b) Tables designated
				1980 CET-A, 1980 CET-B, 1980 CET-C, 1980 CET-D, 1980 CET-E, 1980 CET-F, and
				1980 CET-G, were adopted as recognized mortality tables for life insurance in
				December 1983 by the NAIC.
(c) The
				tables mentioned in subsection (a) are approved by the Commissioner for use in
				determining the minimum nonforfeiture standard for policies of ordinary
				insurance issued on or after the operative date of section 410A(e) of the law
				(40
				P.S. §
										510.1(e)). The
				tables mentioned in subsection (a) may, at the option of the company, be
				substituted for the Commissioner's 1980 Standard Ordinary Mortality Table, with
				or without Ten-Year Select Mortality Factors, under section 410A(e)(8)(F) of
				the law. They are not approved by the Commissioner for use in determining the
				minimum standard of valuation for policies.
(d) The tables mentioned in subsection (b)
				are approved by the Commissioner for use in determining the minimum
				nonforfeiture standard for policies of ordinary insurance issued on or after
				the operative date of section 410A(e) of the law. The tables mentioned in
				subsection (b) may, at the option of the company, be substituted for the
				Commissioner's 1980 Extended Term Insurance Table under section 410A(e)(8)(F)
				of the law. If a company elects to use a particular table mentioned in
				subsection (b) for paid up term insurance with accompanying pure endowment, if
				any, for a particular policy form, the corresponding table mentioned in
				subsection (a) shall be used as the minimum nonforfeiture standard for the rest
				of the same policy form (for example, 1980 CSO-D with 1980 CET-D). These tables
				are not approved by the Commissioner for use in determining the minimum
				standard of valuation for the policies.
(e) Tables designated 1980 CSO-SA, 1980
				CSO-SB, 1980 CSO-SC, 1980 CSO-SD, 1980 CSO-SE, 1980 CSO-SF, 1980 CSO-SG, 1980
				CSO-NA, 1980 CSO-NB, 1980 CSO-NC, 1980 CSO-ND, 1980 CSO-NE, 1980 CSO-NF and
				1980 CSO-NG were adopted as recognized mortality tables for life insurance in
				December 1986 by the NAIC.
(f)
				Tables designated 1980 CET-SA, 1980 CET-SB, 1980 CET-SC, 1980 CET-SD, 1980
				CET-SE, 1980 CET-SF, 1980 CET-SG, 1980 CET-NA, 1980 CETNB, 1980 CET-NC, 1980
				CET-ND, 1980 CET-NE, 1980 CET-NF and 1980 CET-NG were adopted as recognized
				mortality tables for life insurance in December 1986 by the NAIC.
(g) For a policy form with separate rates for
				smokers and nonsmokers, the tables mentioned in subsection (e), in addition to
				the tables mentioned in subsection (a), are approved by the Commissioner for
				use in determining the minimum nonforfeiture standard for policies of ordinary
				insurance issued on or after the operative date of section 410A(e) of the law.
				The tables mentioned in subsections (a) or (e) may, at the option of the
				company, be substituted for the Commissioner's 1980 Standard Ordinary Mortality
				Table, with or without Ten-Year Select Mortality Factors, under section
				410A(e)(8)(F) of the law. They are not approved by the Commissioner for use in
				determining the minimum standard of valuation for policies.
(h) For a policy form with separate rates for
				smokers and nonsmokers, the tables mentioned in subsection (f), in addition to
				the tables mentioned in subsection (b), are approved by the Commissioner for
				use in determining the minimum nonforfeiture standard for policies of ordinary
				insurance issued on or after the operative date of section 410A(e) of the law.
				The tables mentioned in subsection (b) or (f) may, at the option of the
				company, be substituted for the Commissioner's 1980 Extended Term Insurance
				Table under section 410A(e)(8)(F) of the law. If a company elects to use a
				particular table mentioned in subsection (b) or (f) for paid up term insurance
				with accompanying pure endowment, if any, for a particular policy form, the
				corresponding table mentioned in subsection (a) or (e) shall be used as the
				minimum nonforfeiture standard for the rest of the same policy form (for
				example, 1980 CSO-SD with 1980 CET-SD). These tables are not approved by the
				Commissioner for use in determining the minimum standard of valuation for the
				policies.
The provisions of this §
											84.5 amended under sections 206,
					 506, 1501 and 1502 of The Administrative Code of 1929 (71 P.S.
					 §§
												66,
					 186,
					 411 and
					 412); and section
					 410A(e)(8)(F) of The Insurance Company Law of 1921 (40 P.S. §
												510.1(e)(8)(F)).