Ala. Admin. Code r. 482-1-120-.01
Purpose
Effective Aug 12, 2024New Rule: February 18, 2000; effective March 1, 2000. Filed for codification in the Alabama Administrative Code by the Department of Insurance on January 17, 2003, pursuant to the Code of Ala. 1975, §27-7-43. Amended: Published June 28, 2024; effective July 1, 2024. Published with LSA June 28, 2024. This rule is not subject to the Alabama Administrative Procedure Act.Alabama Department of Insurance
(1) The purpose of this chapter is to provide all of the following:
- (a) Tables of select mortality factors and rules for their use.
- (b) Rules concerning a minimum standard for the valuation of plans with nonlevel premiums or benefits.
- (c) Rules concerning a minimum standard for the valuation of plans with secondary guarantees.
- (2) The method for calculating basic reserves defined in this chapter will constitute the Commissioners’ Reserve Valuation Method for policies to which this chapter is applicable.
Author: Reyn Norman, Associate Counsel
Statutory Authority: Code of Ala. 1975, §§27-2-17; 27-36A-1 - 27-36A-20.
History: New Rule: February 18, 2000; effective March 1, 2000. Filed for codification in the Alabama Administrative Code by the Department of Insurance on January 17, 2003, pursuant to the Code of Ala. 1975, §27-7-43. Amended: Published June 28, 2024; effective July 1, 2024. Published with LSA June 28, 2024. This rule is not subject to the Alabama Administrative Procedure Act.