Ala. Admin. Code r. 482-1-120-.01

Current through Register Vol. 43, No. 1, October 31, 2024

Section 482-1-120-.01 - Purpose

(1) The purpose of this chapter is to provide all of the following:

(a) Tables of select mortality factors and rules for their use.

(b) Rules concerning a minimum standard for the valuation of plans with nonlevel premiums or benefits.

(c) Rules concerning a minimum standard for the valuation of plans with secondary guarantees.

(2) The method for calculating basic reserves defined in this chapter will constitute the Commissioners' Reserve Valuation Method for policies to which this chapter is applicable.

Ala. Admin. Code r. 482-1-120-.01

New Rule: February 18, 2000; effective March 1, 2000. Filed for codification in the Alabama Administrative Code by the Department of Insurance on January 17, 2003, pursuant to the Code of Ala. 1975, § 27-7-43.

Amended by Alabama Administrative Monthly Volume XLII, Issue No. 09, June 28, 2024, eff. 7/1/2024.

Author: Reyn Norman, Associate Counsel

Statutory Authority:Code of Ala. 1975, §§ 27-2-17 and 27-36A-1 to 27-36A-20.