31 Pa. Code § 84.6 - 1980 CSO and 1980 CET Smoker and Nonsmoker Mortality Tables

(a) The 1980 CSO Smoker and Nonsmoker Mortality Tables, with or without Ten-Year Select Mortality Factors, and the 1980 CET Smoker and Nonsmoker Mortality Tables were adopted as recognized mortality tables for life insurance in December 1983 by the NAIC.

(b) The Commissioners 1980 Standard Ordinary Mortality Table with or without Ten-Year Select Mortality Factors and the Commissioners 1980 Extended Term Insurance Table are tables prescribed for use in determining the minimum nonforfeiture standard and the minimum standard of valuation of certain policies in section 410A of the law (40 P. S. § 510.1) and sections 301 and 303 of the act (40 P. S. § § 71 and 73).

(c) Subject to the conditions in subsection (d), the tables mentioned in subsection (a) are approved by the Commissioner for use in determining the minimum nonforfeiture standard and the minimum standard of valuation 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)). In determining the minimum nonforfeiture standard and the minimum standard of valuation for the policies, and subject to the conditions in subsection (d), the company at its option may make the following substitutions:

(1) The 1980 CSO Smoker and Nonsmoker Mortality Tables, with or without Ten-Year Select Mortality Factors, may be substituted for the Commissioners 1980 Standard Ordinary Mortality Table, with or without Ten-Year Select Mortality Factors.

(2) The 1980 CET Smoker and Nonsmoker Mortality Tables may be substituted for the Commissioners 1980 Extended Term Insurance Table.

(d) For a policy form with separate rates for smokers and nonsmokers, a company may use the tables in one of the following ways:

(1) Those mentioned in subsection (b) to determine the minimum nonforfeiture standard and the minimum standard for valuation.

(2) Those mentioned in subsection (b) to determine the minimum nonforfeiture standard and the minimum reserves required by section 301 of the act (40 P. S. § 71)-without regard to section 303 of the act (40 P. S. § 73)-and those mentioned in subsection (a) as the minimum valuation standard of mortality to determine the minimum reserves required by section 303 of the act (40 P. S. § 73).

(3) Those mentioned in subsection (a) to determine the minimum nonforfeiture standard and the minimum standard of valuation.

Notes

31 Pa. Code § 84.6