28 Tex. Admin. Code § 4.2726 - Gender-Blended Tables
(a) For any ordinary
life insurance policy delivered or issued for delivery in this state on and
after May 1, 2003, that utilizes the same premium rates and charges for male
and female lives or is issued in circumstances where applicable law does not
permit distinctions on the basis of gender, a mortality table that is a blend
of the 2001 CSO Mortality Table (M) and the 2001 CSO Mortality Table (F) may,
at the option of the company for each plan of insurance, be substituted for the
2001 CSO Mortality Table for use in determining minimum cash surrender values
and amounts of paid-up nonforfeiture benefits. No change in minimum valuation
standards is implied by this subsection. For any ordinary life insurance policy
delivered or issued for delivery in Texas on or after January 1, 2017, the
valuation manual adopted under Insurance Code Chapter 425, Subchapter B,
concerning Standard Valuation Law, provides the applicable mortality
tables.
(b) The company may choose
from among the blended tables developed by the American Academy of Actuaries
CSO Task Force and adopted by the National Association of Insurance
Commissioners in December 2002. These blended tables are available from the
Financial Regulation Division, Actuarial Office, MC: FRD, Texas Department of
Insurance, P.O. Box 12030, Austin, Texas 78711-2030 or on the internet by
accessing the department's website at
www.tdi.texas.gov/rules/2003/ficso.html.
(c) It is not, in and of itself, a violation
of Insurance Code Chapter 541, concerning Unfair Methods of Competition and
Unfair or Deceptive Acts or Practices, for an insurer to issue the same kind of
policy of life insurance on both a sex-distinct and sex-neutral
basis.
Notes
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