Utah Admin. Code R590-251-2 - Purpose and Scope
(1) The purpose of
this rule is to:
(a) establish minimum
mortality standards for reserves and nonforfeiture values for a preneed life
insurance product; and
(b) require
the use of the Ultimate 1980 CSO to determine:
(i) the minimum standard of valuation of
reserve liabilities; and
(ii) the
minimum standard for nonforfeiture values.
(2) This rule applies to preneed insurance
contracts and similar policies and certificates issued on or after January 1,
2009.
Notes
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