18 Del. Admin. Code § 1206-4.0

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

Section 1206-4.0 - Rule

4.1 For any policy of insurance on the life of either a male or female insured delivered or issued for delivery in this State after the operative date of 18 Del.C. § 2929(g)(11) for that policy form,

4.1.1 a mortality table which is a blend of the 1980 CSO Table (M) and the 1980 CSO Table (F) with or without Ten-Year Select Mortality Factors may at the option of the company be substituted for the 1980 CSO Table, with or without Ten-Year Select Mortality Factors, and

4.1.2 a mortality table which is of the same blend as used in (i) but applied to form a blend of the 1980 CET Table (M) and the 1980 CET Table (F) may at the option of the company be substituted for the 1980 CET Table for use in determining minimum cash surrender values and amounts of paidup nonforfeiture benefits.

4.1.3 The following tables will be considered as the basis for acceptable tables:

4.1.3.1 100% Male 0% Female for tables to be designated as the "1980 CSO-A" and "1980 CET-A" tables.

4.1.3.2 80% Male 20% Female for tables to be designated as the "1980 CSO-B" and "1980 CET-B" tables.

4.1.3.3 60% Male 40% Female for tables to be designated as the "1980 CSO-C" and "1980 CET-C" tables.

4.1.3.4 50% Male 50% Female for tables to be designated as the "1980 CSO-D" and "1980 CET-D" tables.

4.1.3.5 40% Male 60% Female for tables to be designated as the "1980 CSO-E" and "1980 CET-E" tables.

4.1.3.6 20% Male 80% Female for tables to be designated as the "1980 CSO-F" and "1980 CET-F" tables.

4.1.3.7 0% Male 100% Female for tables to be designated as the "1980 CSO-G" and "1980 CET-G" tables.

4.1.4 Tables A and G (4.1.3.1 and 4.1.3.7) are not to be used with respect to policies issued on or after January 1, 1985, except where the proportion of persons insured is anticipated to be 90% or more of one sex or the other or except for certain policies converted from group insurance. Such group conversions issued on or after January 1, 1986 must use Mortality Tables based on the blend of lives by sex expected for such policies if such group conversions are considered as extensions of the Norris decision. This consideration has not been clearly defined by court or legislative action in all jurisdictions.

4.1.5 The values for the tables are as published in Appendix I of the NAIC Model Regulation, Mixed-Gender Mortality Tables, December 1983, and are adopted by reference as is the memorandum which is Appendix 11 of that document.

18 Del. Admin. Code § 1206-4.0