Washington Administrative Code › Title 284 - Insurance Commissioner, Office of the › Chapter 284-74 - Approved insurance tables › Section 284-74-100 - Smoker/nonsmoker mortality tables

Current through Register Vol. 24-14, July 15, 2024
The purpose of this section is to permit the use of mortality
				tables approved by the National Association of Insurance Commissioners (NAIC)
				that reflect differences in mortality between smokers and nonsmokers in
				determining minimum reserve liabilities, minimum cash surrender values and
				amounts of paid-up nonforfeiture benefits for plans of insurance with separate
				premium rates for smokers and nonsmokers.
(1) As used in this section, the following
			 definitions apply:
(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 and set forth in
Transactions, Society of
			 Actuaries
, Vol. XXXIII (1981), pp. 617 and 618, and referred to as
			 commissioners 1980 standard ordinary mortality table (1980 CSO). The same
			 select factors will be used for both smokers and nonsmokers tables. These
			 select factors are set forth in
Transactions, Society of
			 Actuaries
, Vol. XXXIII (1981), p. 669, and referred to therein as
			 selection factors for alternate method of determining life insurance reserves
			 and deficiency reserve requirements (1980 CSO with ten-year select mortality
			 factors).
(b) "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 standard model
			 nonforfeiture law for life insurance and referred to in those models as the
			 commissioners 1980 extended term insurance table, and set forth in
Transactions, Society of Actuaries
, Vol. XXXIII (1981), pp.
			 617 and 619, and referred to as commissioners 1980 extended term insurance
			 mortality table (1980 CET).
(c)
			 "1958 CSO table" means that mortality table developed by the society of
			 actuaries special committee on new mortality tables, incorporated in the NAIC
			 model standard nonforfeiture law for life insurance and referred to in that
			 model as the commissioners 1958 standard ordinary mortality table, and set
			 forth in
Proceedings of the National Association of Insurance
			 Commissioners
, 1959, Vol. I, p. 195 (also see 1960, Vol. I, p. 211,
			 and 1978, Vol. I, p. 537) and referred to as commissioners 1958 standard
			 ordinary mortality table (1958 CSO).
(d) "1958 CET table" means that mortality
			 table developed by the society of actuaries special committee on new mortality
			 tables, incorporated in the NAIC model standard nonforfeiture law for life
			 insurance and referred to in that model as the commissioners 1958 extended term
			 insurance table, and set forth in
Proceedings of the National
			 Association of Insurance Commissioners
, 1959, Vol. I, p. 196, and
			 referred to as commissioners 1958 extended term insurance mortality table (1958
			 CET).
(e) The phrase "smoker and
			 nonsmoker mortality tables" refers to the mortality tables with separate rates
			 of mortality for smokers and nonsmokers derived from the tables defined in (a)
			 through (d) of this subsection which were developed by the society of actuaries
			 task force on smoker/nonsmoker mortality and the California insurance
			 department staff and recommended by the NAIC technical staff actuarial group,
			 and are published in
Proceedings, National Association of Insurance
			 Commissioners
, 1984, Vol. I, pp. 402-413.
(f) The phrase "composite mortality tables"
			 refers to the mortality tables defined in (a) through (d) of this subsection as
			 they were originally published with rates of mortality that do not distinguish
			 between smokers and nonsmokers.