Cal. Code Regs. tit. 10 § 2248.47

Current through Register 2024 Notice Reg. No. 45, November 8, 2024

Section 2248.47 - Tables

The rates set forth below in TABLES 1, 2 and 3 are deemed to provide, on a prima facie basis, the loss ratios established by § 2248.32(a). The formulas used to derive the rates in TABLES 2 and 3 are available from the Commissioner. Disability premiums computed in accordance with such formulas for terms of insurance not specified in TABLE 2 shall be deemed to be in compliance with this Article even though they may differ from those computed by interpolation.

TABLE 1

PRIMA FACIE MAXIMUM LIFE INSURANCE RATES

(per $1000 of insured amount per month)

Closed End	Class(es)	Rate (PLR = .55)	Joint Multiplier
Class A Decreasing and Level	A	$0.61	1.6230
Scheduled Decreasing and Level	B-E	$0.51	1.7451
Open End
Line of Credit	A,B,D,E	$0.87	1.5517
Credit Card	A,B,D,E	$0.87	1.5517
Credit Union Open End	C	$0.68	1.7059
Credit Union Credit Card	C	$0.68	1.7059

TABLE 2

PRIMA FACIE DISABILITY RATES FOR CLOSED END LOANS

Sub Table A (Unsecured loans <$10,000 from "regulated lenders")

SP (Single premium per $1000 of Initial Insured Amount)				Term in Months*	MP (Premium per $1000 of Scheduled Remaining Payments)
Non-retroactive		Retroactive			Non-retroactive		Retroactive
14 Day	30 Day	14 Day	30 Day		14 Day	30 Day	14 Day	30 Day
2.49		3.00		1	2.49		3.00
	1.86		2.52	2		1.24		1.68
16.01	7.97	19.29	10.80	12	2.49	1.24	3.00	1.68
23.46	13.07	27.00	17.11	24	1.92	1.07	2.21	1.40
29.84	17.51	33.06	21.44	36	1.67	.98	1.85	1.20
35.32	21.29	39.30	25.26	48	1.51	.91	1.68	1.08
39.72	24.46	44.32	28.49	60	1.38	.85	1.54	.99
43.58	27.24	48.35	31.32	72	1.28	.80	1.42	.92
46.63	29.78	52.12	33.70	84	1.19	.76	1.33	.86
49.52	32.28	55.27	36.25	96	1.12	.73	1.25	.82
52.07	33.89	57.96	38.31	108	1.06	.69	1.18	.78
54.45	36.12	60.38	39.90	120	1.01	.67	1.12	.74

*Interpolate linearly for rates for durations not listed.

Sub Table B

SP (Single premium per $1000 of Initial Insured Amount)				Term in Months*	MP (Premium per $1000 of Scheduled Remaining Payments)
Non-retroactive		Retroactive			Non-retroactive		Retroactive
14 Day	30 Day	14 Day	30 Day		14 Day	30 Day	14 Day	30 Day
2.05		2.48		1	2.05		2.48
	2.25		3.43	2		1.50		2.29
13.18	9.64	15.94	14.72	12	2.05	1.50	2.48	2.29
19.55	15.76	22.60	20.65	24	1.60	1.29	1.85	1.69
25.02	21.09	28.24	25.91	36	1.40	1.18	1.58	1.45
29.71	25.73	33.21	30.41	48	1.27	1.10	1.42	1.30
33.67	29.64	37.42	34.54	60	1.17	1.03	1.30	1.20
36.77	33.03	41.20	37.79	72	1.08	.97	1.21	1.11
39.58	36.05	44.28	40.76	84	1.01	.92	1.13	1.04
42.00	38.46	46.87	43.77	96	.95	.87	1.06	.99
44.70	40.77	49.61	46.17	108	.91	.83	1.01	.94
46.37	43.13	51.76	48.52	120	.86	.80	.96	.90

*Interpolate linearly for rates for durations not listed.

Sub Table C (Group I)[DAGGER]

SP (Single premium per $1000 of Initial Insured Amount)				Term in Months**	MP (Premium per $1000 of Scheduled Remaining Payments)
Non-retroactive		Retroactive			Non-retroactive		Retroactive
14 Day	30 Day	14 Day	30 Day		14 Day	30 Day	14 Day	30 Day
3.42		5.19		1	3.42		5.19
	3.81		6.89	2		2.54		4.60
21.99	16.33	33.37	29.57	12	3.42	2.54	5.19	4.60
32.62	26.76	47.04	41.54	24	2.67	2.19	3.85	3.40
41.64	35.74	58.97	52.18	36	2.33	2.00	3.30	2.92
49.59	43.51	69.00	61.52	48	2.12	1.86	2.95	2.63
56.12	50.08	78.00	69.65	60	1.95	1.74	2.71	2.42
61.62	56.18	85.80	76.94	72	1.81	1.65	2.52	2.26
66.23	61.13	92.49	83.08	84	1.69	1.56	2.36	2.12
70.30	65.88	98.15	88.87	96	1.59	1.49	2.22	2.01
74.17	69.26	103.64	93.82	108	1.51	1.41	2.11	1.91
77.10	73.32	107.83	98.12	120	1.43	1.36	2.00	1.82

[DAGGER]For Group II, multiply Group I rates by 1.1

For Group III, multiply Group I rates by 1.3

*Interpolate linearly for rates for durations not listed.

Sub Table D

SP (Single premium per $1000 of Initial Insured Amount)				Term in Months*	MP (Premium per $1000 of Scheduled Remaining Payments)
Non-retroactive		Retroactive			Non-retroactive		Retroactive
14 Day	30 Day	14 Day	30 Day		14 Day	30 Day	14 Day	30 Day
2.55		4.21		1	2.56		4.21
	2.46		4.59	2		1.64		3.06
16.46	10.54	27.07	19.67	12	2.56	1.64	4.21	3.06
24.44	17.35	38.00	27.49	24	2.00	1.42	3.11	2.25
31.10	23.05	47.36	34.67	36	1.74	1.29	2.65	1.94
36.96	28.30	55.67	40.70	48	1.58	1.21	2.38	1.74
41.73	32.52	62.74	46.34	60	1.45	1.13	2.18	1.61
45.96	36.09	68.77	50.73	72	1.35	1.06	2.02	1.49
49.38	39.58	74.07	54.86	84	1.26	1.01	1.89	1.40
52.61	42.44	78.70	58.36	96	1.19	.96	1.78	1.32
55.51	44.70	82.52	61.40	108	1.13	.91	1.68	1.25
57.69	47.44	86.26	64.70	120	1.07	.88	1.60	1.20

*Interpolate linearly for rates for durations not listed.

Sub Table E

]SP (Single premium per $1000 of Initial Insured Amount)				Term in Months*	MP (Premium per $1000 of Scheduled Remaining Payments)
Non-retroactive		Retroactive			Non-retroactive		Retroactive
14 Day	30 Day	14 Day	30 Day		14 Day	30 Day	14 Day	30 Day
1.81		2.56		1	1.81		2.56
	1.80		3.01	2		1.20		2.01
11.64	7.72	16.46	12.92	12	1.81	1.20	2.56	2.01
17.23	12.58	23.09	18.21	24	1.41	1.03	1.89	1.49
21.98	16.80	28.77	22.70	36	1.23	.94	1.61	1.27
26.20	20.58	33.92	25.26	48	1.12	.88	1.45	1.08
29.64	23.89	38.28	30.22	60	1.03	.83	1.33	1.05
32.68	26.56	41.88	33.37	72	.96	.78	1.23	.98
34.88	29.00	45.07	36.05	84	.89	.74	1.15	.92
37.14	30.95	47.75	38.46	96	.84	.70	1.08	.87
39.30	32.91	50.10	40.77	108	.80	.67	1.02	.83
40.97	34.50	52.30	42.59	120	.76	.64	.97	.79

* Interpolate linearly for rates for durations not listed.

TABLE 3

PRIMA FACIE DISABILITY RATES FOR OPEN END LOANS, ALL CLASSES

Type of Coverage	Class of Business	MP (Premium per $1000 of Outstanding Principal Balance)
		Non-retroactive		Retroactive
		14 Day	30 Day	14 Day	30 Day
Credit Union Open End, Group I	C	2.68	2.30	3.80	3.35
Group II = 1.1 X (Group I)
Group III = 1.3 X (Group I)

Line of Credit	A	1.92	1.13	2.12	1.38
	B	1.61	1.36	1.82	1.66
	C	2.68	2.30	3.80	3.35
	D	2.00	1.48	3.05	2.23
	E	1.42	1.08	1.86	1.46
Credit Card	A	1.92	1.13	2.12	1.38
	B	1.61	1.36	1.82	1.66
	C	2.68	2.30	3.80	3.35
	D	2.00	1.48	3.05	2.23
	E	1.42	1.08	1.86	1.46

TABLE 4

RATE DEVIATION CREDIBILITY TABLE

Average Number of Life Years			Incurred Claim Count	Credibility Factor ("Z")
Life	Disability (all plans)
	14 Day	30 Day
1	1	1	1	.00
1800	141	209	9	.25
2400	188	279	12	.30
3000	234	349	15	.35
4600	359	535	23	.45
5600	438	651	28	.50
6600	516	767	33	.55
7600	594	884	38	.60
9600	750	1116	48	.65
11600	906	1349	58	.70
14600	1141	1698	73	.75
17600	1375	2047	88	.80
20600	1609	2395	103	.85
25600	2000	2977	128	.90
30600	2391	3558	153	.95
40000	3125	4651	200	1.00

The above integers represent the lower end of the bracket for each "Z" factor.

The upper end is 1 less than the lower end for the next higher "Z" factor.

Cal. Code Regs. Tit. 10, § 2248.47

1. New section filed 4-14-94; operative 5-16-94. Submitted to OAL for printing only pursuant to Government Code section 11343(a)(1) (Register 94, No. 15).
2. Editorial correction amending TABLE 2, Sub Table A and Sub Table B (Register
3. Amendment of Tables 1-3, repealer of Table 5 and amendment of NOTE filed 10-2-2001; operative 10-1-2001. Submitted to OAL for printing only pursuant to Government Code section 11340.9(g) (Register 2001, No. 40).
4. Amendment of Tables 1 and 2 and Sub Table C filed 1-9-2002; operative 1-9-2002. Submitted to OAL for printing only pursuant to Government Code section 11340.9(g) (Register 2002,, No. 2).

Note: Authority cited: Sections 779.21 and 779.36, Insurance Code. Reference: Sections 779.9 and 779.36, Insurance Code; Sections 18191, 18290- 18292, 22314, 22315 and 22455, Financial Code; and Credit Insurance General Agents Association v. Payne, (1976) 16 Cal. 3d 651.

1. New section filed 4-14-94; operative 5-16-94. Submitted to OAL for printing only pursuant to Government Code section 11343(a)(1) (Register 94, No. 15).
2. Editorial correction amending T able 2, Sub Table A and Sub Table B (Register
3. Amendment of Tables 1-3, repealer of Table 5 and amendment of Note filed 10-2-2001; operative 10-1-2001. Submitted to OAL for printing only pursuant to Government Code section 11340.9(g) (Register 2001, No. 40).
4. Amendment of Tables 1 and 2 and Sub Table C filed 1-9-2002; operative 1-9-2002. Submitted to OAL for printing only pursuant to Government Code section 11340.9(g) (Register 2002,, No. 2).