Section 20. Purpose

Latest version.

A. The purpose of this regulation is to provide:

1. Tables of select mortality factors and rules for their use;

2. Rules establishing minimum valuation and reserve standards for plans with nonlevel premiums or benefits; and

3. Rules establishing minimum valuation and reserve standards for plans with secondary guarantees.

B. The method for calculating basic reserves defined in this regulation will constitute the Commissioners' Reserve Valuation Method for policies to which this regulation is applicable.

Historical Notes

Derived from Volume 16, Issue 06, eff. January 1, 2000.

Statutory Authority

§§ 12.1-13 and 38.2-223 of the Code of Virginia.

                    
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