(a) The purpose of this part is to provide:
- (1) Tables of select mortality factors and rules for their use;
- (2) Rules concerning a minimum standard for the valuation of plans with nonlevel premiums or benefits; and
- (3) Rules concerning a minimum standard for the valuation of plans with secondary guarantees.
- (b) The method for calculating basic reserves defined in this part will constitute the Commissioners’ Reserve Valuation Method for policies to which this part is applicable.