31 Pa. Code § 84.5 - 1980 CSO and 1980 CET Tables, including Smoker and Nonsmoker Tables, with Mortality Rates Independent of Sex
(a) Tables designated 1980 CSO-A, 1980 CSO-B,
1980 CSO-C, 1980 CSO-D, 1980 CSO-E, 1980 CSO-F, and 1980 CSO-G, with or without
Ten-Year Select Mortality Factors, were adopted as recognized mortality tables
for life insurance in December 1983 by the NAIC.
(b) Tables designated 1980 CET-A, 1980 CET-B,
1980 CET-C, 1980 CET-D, 1980 CET-E, 1980 CET-F, and 1980 CET-G, were adopted as
recognized mortality tables for life insurance in December 1983 by the
NAIC.
(c) The tables mentioned in
subsection (a) are approved by the Commissioner for use in determining the
minimum nonforfeiture standard for policies of ordinary insurance issued on or
after the operative date of section 410A(e) of the law (40 P.S. §
510.1(e)). The tables
mentioned in subsection (a) may, at the option of the company, be substituted
for the Commissioner's 1980 Standard Ordinary Mortality Table, with or without
Ten-Year Select Mortality Factors, under section 410A(e)(8)(F) of the law. They
are not approved by the Commissioner for use in determining the minimum
standard of valuation for policies.
(d) The tables mentioned in subsection (b)
are approved by the Commissioner for use in determining the minimum
nonforfeiture standard for policies of ordinary insurance issued on or after
the operative date of section 410A(e) of the law. The tables mentioned in
subsection (b) may, at the option of the company, be substituted for the
Commissioner's 1980 Extended Term Insurance Table under section 410A(e)(8)(F)
of the law. If a company elects to use a particular table mentioned in
subsection (b) for paid up term insurance with accompanying pure endowment, if
any, for a particular policy form, the corresponding table mentioned in
subsection (a) shall be used as the minimum nonforfeiture standard for the rest
of the same policy form (for example, 1980 CSO-D with 1980 CET-D). These tables
are not approved by the Commissioner for use in determining the minimum
standard of valuation for the policies.
(e) Tables designated 1980 CSO-SA, 1980
CSO-SB, 1980 CSO-SC, 1980 CSO-SD, 1980 CSO-SE, 1980 CSO-SF, 1980 CSO-SG, 1980
CSO-NA, 1980 CSO-NB, 1980 CSO-NC, 1980 CSO-ND, 1980 CSO-NE, 1980 CSO-NF and
1980 CSO-NG were adopted as recognized mortality tables for life insurance in
December 1986 by the NAIC.
(f)
Tables designated 1980 CET-SA, 1980 CET-SB, 1980 CET-SC, 1980 CET-SD, 1980
CET-SE, 1980 CET-SF, 1980 CET-SG, 1980 CET-NA, 1980 CETNB, 1980 CET-NC, 1980
CET-ND, 1980 CET-NE, 1980 CET-NF and 1980 CET-NG were adopted as recognized
mortality tables for life insurance in December 1986 by the NAIC.
(g) For a policy form with separate rates for
smokers and nonsmokers, the tables mentioned in subsection (e), in addition to
the tables mentioned in subsection (a), are approved by the Commissioner for
use in determining the minimum nonforfeiture standard for policies of ordinary
insurance issued on or after the operative date of section 410A(e) of the law.
The tables mentioned in subsections (a) or (e) may, at the option of the
company, be substituted for the Commissioner's 1980 Standard Ordinary Mortality
Table, with or without Ten-Year Select Mortality Factors, under section
410A(e)(8)(F) of the law. They are not approved by the Commissioner for use in
determining the minimum standard of valuation for policies.
(h) For a policy form with separate rates for
smokers and nonsmokers, the tables mentioned in subsection (f), in addition to
the tables mentioned in subsection (b), are approved by the Commissioner for
use in determining the minimum nonforfeiture standard for policies of ordinary
insurance issued on or after the operative date of section 410A(e) of the law.
The tables mentioned in subsection (b) or (f) may, at the option of the
company, be substituted for the Commissioner's 1980 Extended Term Insurance
Table under section 410A(e)(8)(F) of the law. If a company elects to use a
particular table mentioned in subsection (b) or (f) for paid up term insurance
with accompanying pure endowment, if any, for a particular policy form, the
corresponding table mentioned in subsection (a) or (e) shall be used as the
minimum nonforfeiture standard for the rest of the same policy form (for
example, 1980 CSO-SD with 1980 CET-SD). These tables are not approved by the
Commissioner for use in determining the minimum standard of valuation for the
policies.
Notes
The provisions of this § 84.5 amended under sections 206, 506, 1501 and 1502 of The Administrative Code of 1929 (71 P.S. §§ 66, 186, 411 and 412); and section 410A(e)(8)(F) of The Insurance Company Law of 1921 (40 P.S. § 510.1(e)(8)(F)).
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