211 CMR 32.04 - Definitions

Current through Register 1466, April 1, 2022

(1) 1980 CSO Table, with or without Ten-YearSelectMortalityFactors means that mortalitytable, consisting of separate rates of mortality for male and female lives, developed by the Society of Actuaries Committee to Recommend New Mortality Tables for Valuation of Standard Individual Ordinary Life Insurance, incorporated in the 1980 NAIC Amendments to the Model Standard Valuation Law and Standard Nonforfeiture Law for Life Insurance, and referred to in those models as the Commissioners 1980 Standard Ordinary Mortality Table, with or without Ten-Year Select Mortality Factors. The same select factors will be used for both smoker and nonsmoker tables.
(2) 1980 CSO Table (M), with or without Ten-Year Select Mortality Factors means that mortality table consisting of the rates of mortality for male lives from the 1980 CSO Table, with or without Ten-Year Select Mortality Factors.
(3) 1980 CSO Table (F), with or without Ten-Year Select Mortality Factors means that mortality table consisting of the rates of mortality for female lives from the 1980 CSO Table, with or without Ten-Year Select Mortality Factors.
(4) 1980 CET Table means that mortality table consisting of separate rates of mortality for male and female lives, developed by the Society of Actuaries Committee to Recommend New Mortality Tables for Valuation of Standard Individual Ordinary Life Insurance, incorporated in the 1981 NAIC Amendments to the Model Standard Valuation Law and Standard Nonforfeiture Law for Life Insurance, and referred to in those models as the Commissioners 1981 Extended Term Insurance Table.
(5) 1980 CET Table (M) means that mortality table consistingofthe rates ofmortality for male lives from the 1980 CET Table.
(6) 1980 CET Table (F) means that mortality table consisting of the rates of mortality for female lives from the 1980 CET Table.
(7) 1958 CSO Table means that mortality table developed by the Society of Actuaries Special Committee on New Mortality Tables, incorporated in the NAIC Model Standard Nonforfeiture Law for Life Insurance, and referred to in that model as the Commissioners 1958 Standard Ordinary Mortality Table.
(8) 1958 CET Table means that mortality table developed by the Society of Actuaries Special Committee on New Mortality Tables, incorporated in the NAIC Model Standard Nonforfeiture Law for Life Insurance, and referred to in that model as the Commissioners 1958 Extended Term Insurance Table.
(9) Smoker and nonsmoker mortality tables refers to the mortality tables with separate rates of mortality for smokers and nonsmokers derived from the tables defined in 211 CMR 32.04(1), (4), (7) and (8) which were developed by the Society of Actuaries Task Force on Smoker/Nonsmoker Mortality and the California Insurance Department staff, recommended by the NAIC Technical Staff Actuarial Group, and published in the 1984 Proceedings of the National Association of Insurance Commissioners, Volume 1, pages 402-413.
(10) Composite mortality tables refers to the mortality tables defined in 211 CMR 32.04(1), (4), (7) and (8) as they were originally published with rates ofmortalitythat do not distinguish between smokers and nonsmokers.

Notes

211 CMR 32.04

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