18 Del. Admin. Code § 1202-3.0

Current through Register Vol. 28, No. 5, November 1, 2024

Section 1202-3.0 - Compliance

3.1 Consistent with the foregoing discussion, actuarial assumptions and rate making methods shall be outlined in detail. The following guidelines shall be followed by an insurer when filing policy forms providing for a maximum policy loan interest rate in excess of 6%:

3.1.1 The minimum standard for the valuation of all policies and contracts shall be a change in the reserve value interest assumption of not less than one-half of 1%, and a comparison indicating a benefit for the insured/owner using the NAIC surrender cost index, or any other comparison such as the traditional net cost approach.