28 Tex. Admin. Code § 3.1404

Current through Reg. 49, No. 49; December 6, 2024

Section 3.1404 - Conditions

For each plan of insurance with separate rates for smokers and nonsmokers, an insurer may:

(1) use composite mortality tables to determine minimum reserve liabilities and minimum cash surrender values and amounts of paid-up nonforfeiture benefits or benefits under any extended term insurance provision;

(2) use smoker and nonsmoker mortality tables to determine the valuation net premiums and additional minimum reserves, if any, required by Insurance Code § 425.068, and use composite mortality tables to determine the basic minimum reserves, minimum cash surrender values, and amounts of paid-up nonforfeiture benefits, or benefits under any extended term insurance provision; or

(3) use smoker and nonsmoker mortality tables to determine minimum reserve liabilities and minimum cash surrender values and amounts of paid-up nonforfeiture benefits, or benefits under any extended term insurance provision.

28 Tex. Admin. Code § 3.1404

The provisions of this §3.1404 adopted to be effective November 30, 1984, 9 TexReg 5919; Amended by Texas Register, Volume 47, Number 18, May 6, 2022, TexReg 2762, eff. 5/11/2022