28 Tex. Admin. Code § 4.2733 - 2001 CSO Preferred Class Structure Table
(a) Policies issued on or after January 1,
2007, and before January 1, 2017. At the election of the insurer, for each
calendar year of issue, for any one or more specified plans of insurance and
subject to satisfying the conditions stated in this subchapter, the 2001 CSO
Preferred Class Structure Mortality Table may be substituted in place of the
2001 CSO Smoker or Nonsmoker Mortality Table as the minimum valuation standard
for policies issued on or after January 1, 2007. Policies issued on or after
January 1, 2017, must follow the mortality table requirements provided by the
valuation manual adopted under Insurance Code Chapter 425, Subchapter B,
concerning Standard Valuation Law.
(b) Policies issued on or after May 1, 2003,
and before January 1, 2007. At the election of the insurer and with the consent
of the commissioner, for policies issued on or after May 1, 2003, and before
January 1, 2007, the 2001 CSO Preferred Class Structure Mortality Table may be
substituted in place of the 2001 CSO Smoker or Nonsmoker Mortality Table as the
minimum valuation standard subject to the conditions of §
4.2734 of this title (relating to
Conditions). In determining such consent, the commissioner may rely on the
consent of the commissioner of the insurer's state of domicile.
(c) Requirement to make election. No election
in subsection (a) or (b) of this section may be made until the insurer
demonstrates that at least 20% of the business to be valued on this table is in
one or more of the preferred classes.
(d) 2001 CSO Preferred Class Structure
Mortality Table Treatment. A table from the 2001 CSO Preferred Class Structure
Mortality Table used in place of a 2001 CSO Mortality Table, under the
requirements of this subchapter, will be treated as part of the 2001 CSO
Mortality Table only for purposes of reserve valuation under the requirements
of Subchapter AA, Division 3 of this title (relating to 2001 CSO Mortality
Table).
(e) Adoption by reference.
The commissioner adopts by reference the 2001 CSO Preferred Class Structure
Mortality Table. The table is 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.
Notes
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