Virginia Administrative Code (Last Updated: January 10, 2017) |
Title 14. Insurance |
Agency 5. State Corporation Commission, Bureau of Insurance |
Chapter 60. Rules Permitting Smoker/Nonsmoker Mortality Tables for Use in Determiningminimum Reserve Liabilities and Nonforfeiture Benefits |
Section 10. Purpose
Latest version.
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The purpose of this chapter (14VAC5-60-10 et seq.) is to permit the use of mortality tables that reflect differences in mortality between smokers and nonsmokers in determining minimum reserve liabilities and minimum cash surrender values and amounts of paid-up nonforfeiture benefits for plans of insurance with separate premium rates for smokers and nonsmokers.
Historical Notes
Derived from Regulation 29, Case No. INS860320, § 2, eff. May 1, 1987.