Cal. Code Regs. tit. 10, § 2248.47
The rates set forth below in TABLES 1, 2 and 3 are deemed to provide, on a prima facie basis, the loss ratios established by § 2248.32(a). The formulas used to derive the rates in TABLES 2 and 3 are available from the Commissioner. Disability premiums computed in accordance with such formulas for terms of insurance not specified in TABLE 2 shall be deemed to be in compliance with this Article even though they may differ from those computed by interpolation.
TABLE 1
Prima Facie Maximum Life Insurance Rates
(per $1000 of insured amount per month)
Closed End
Class(es)
Rate (PLR = .55)
Joint Multiplier
Class A Decreasing and Level
A
$0.61
1.6230
Scheduled Decreasing and Level
B-E
$0.51
1.7451
Open End
Line of Credit
A,B,D,E
$0.87
1.5517
Credit Card
A,B,D,E
$0.87
1.5517
Credit Union Open End
C
$0.68
1.7059
Credit Union Credit Card
C
$0.68
1.7059
TABLE 2
Prima Facie Disability Rates for Closed End Loans
Sub Table A (Unsecured loans <$10,000 from “regulated lenders”)
SP (Single premium per $1000 of Initial Insured Amount)
Term in Months*
MP (Premium per $1000 of Scheduled Remaining Payments)
Non-retroactive
Retroactive
Non-retroactive
Retroactive
14 Day
30 Day
14 Day
30 Day
14 Day
30 Day
14 Day
30 Day
2.49
3.00
1
2.49
3.00
1.86
2.52
2
1.24
1.68
16.01
7.97
19.29
10.80
12
2.49
1.24
3.00
1.68
23.46
13.07
27.00
17.11
24
1.92
1.07
2.21
1.40
29.84
17.51
33.06
21.44
36
1.67
.98
1.85
1.20
35.32
21.29
39.30
25.26
48
1.51
.91
1.68
1.08
39.72
24.46
44.32
28.49
60
1.38
.85
1.54
.99
43.58
27.24
48.35
31.32
72
1.28
.80
1.42
.92
46.63
29.78
52.12
33.70
84
1.19
.76
1.33
.86
49.52
32.28
55.27
36.25
96
1.12
.73
1.25
.82
52.07
33.89
57.96
38.31
108
1.06
.69
1.18
.78
54.45
36.12
60.38
39.90
120
1.01
.67
1.12
.74
*Interpolate linearly for rates for durations not listed.
Sub Table B
SP (Single premium per $1000 of Initial Insured Amount)
Term in Months*
MP (Premium per $1000 of Scheduled Remaining Payments)
Non-retroactive
Retroactive
Non-retroactive
Retroactive
14 Day
30 Day
14 Day
30 Day
14 Day
30 Day
14 Day
30 Day
2.05
2.48
1
2.05
2.48
2.25
3.43
2
1.50
2.29
13.18
9.64
15.94
14.72
12
2.05
1.50
2.48
2.29
19.55
15.76
22.60
20.65
24
1.60
1.29
1.85
1.69
25.02
21.09
28.24
25.91
36
1.40
1.18
1.58
1.45
29.71
25.73
33.21
30.41
48
1.27
1.10
1.42
1.30
33.67
29.64
37.42
34.54
60
1.17
1.03
1.30
1.20
36.77
33.03
41.20
37.79
72
1.08
.97
1.21
1.11
39.58
36.05
44.28
40.76
84
1.01
.92
1.13
1.04
42.00
38.46
46.87
43.77
96
.95
.87
1.06
.99
44.70
40.77
49.61
46.17
108
.91
.83
1.01
.94
46.37
43.13
51.76
48.52
120
.86
.80
.96
.90
*Interpolate linearly for rates for durations not listed.
Sub Table C (Group I)†
SP (Single premium per $1000 of Initial Insured Amount)
Term in Months**
MP (Premium per $1000 of Scheduled Remaining Payments)
Non-retroactive
Retroactive
Non-retroactive
Retroactive
14 Day
30 Day
14 Day
30 Day
14 Day
30 Day
14 Day
30 Day
3.42
5.19
1
3.42
5.19
3.81
6.89
2
2.54
4.60
21.99
16.33
33.37
29.57
12
3.42
2.54
5.19
4.60
32.62
26.76
47.04
41.54
24
2.67
2.19
3.85
3.40
41.64
35.74
58.97
52.18
36
2.33
2.00
3.30
2.92
49.59
43.51
69.00
61.52
48
2.12
1.86
2.95
2.63
56.12
50.08
78.00
69.65
60
1.95
1.74
2.71
2.42
61.62
56.18
85.80
76.94
72
1.81
1.65
2.52
2.26
66.23
61.13
92.49
83.08
84
1.69
1.56
2.36
2.12
70.30
65.88
98.15
88.87
96
1.59
1.49
2.22
2.01
74.17
69.26
103.64
93.82
108
1.51
1.41
2.11
1.91
77.10
73.32
107.83
98.12
120
1.43
1.36
2.00
1.82
†For Group II, multiply Group I rates by 1.1
For Group III, multiply Group I rates by 1.3
*Interpolate linearly for rates for durations not listed.
Sub Table D
SP (Single premium per $1000 of Initial Insured Amount)
Term in Months*
MP (Premium per $1000 of Scheduled Remaining Payments)
Non-retroactive
Retroactive
Non-retroactive
Retroactive
14 Day
30 Day
14 Day
30 Day
14 Day
30 Day
14 Day
30 Day
2.55
4.21
1
2.56
4.21
2.46
4.59
2
1.64
3.06
16.46
10.54
27.07
19.67
12
2.56
1.64
4.21
3.06
24.44
17.35
38.00
27.49
24
2.00
1.42
3.11
2.25
31.10
23.05
47.36
34.67
36
1.74
1.29
2.65
1.94
36.96
28.30
55.67
40.70
48
1.58
1.21
2.38
1.74
41.73
32.52
62.74
46.34
60
1.45
1.13
2.18
1.61
45.96
36.09
68.77
50.73
72
1.35
1.06
2.02
1.49
49.38
39.58
74.07
54.86
84
1.26
1.01
1.89
1.40
52.61
42.44
78.70
58.36
96
1.19
.96
1.78
1.32
55.51
44.70
82.52
61.40
108
1.13
.91
1.68
1.25
57.69
47.44
86.26
64.70
120
1.07
.88
1.60
1.20
*Interpolate linearly for rates for durations not listed.
Sub Table E
SP (Single premium per $1000 of Initial Insured Amount)
Term in Months*
MP (Premium per $1000 of Scheduled Remaining Payments)
Non-retroactive
Retroactive
Non-retroactive
Retroactive
14 Day
30 Day
14 Day
30 Day
14 Day
30 Day
14 Day
30 Day
1.81
2.56
1
1.81
2.56
1.80
3.01
2
1.20
2.01
11.64
7.72
16.46
12.92
12
1.81
1.20
2.56
2.01
17.23
12.58
23.09
18.21
24
1.41
1.03
1.89
1.49
21.98
16.80
28.77
22.70
36
1.23
.94
1.61
1.27
26.20
20.58
33.92
25.26
48
1.12
.88
1.45
1.08
29.64
23.89
38.28
30.22
60
1.03
.83
1.33
1.05
32.68
26.56
41.88
33.37
72
.96
.78
1.23
.98
34.88
29.00
45.07
36.05
84
.89
.74
1.15
.92
37.14
30.95
47.75
38.46
96
.84
.70
1.08
.87
39.30
32.91
50.10
40.77
108
.80
.67
1.02
.83
40.97
34.50
52.30
42.59
120
.76
.64
.97
.79
* Interpolate linearly for rates for durations not listed.
TABLE 3
Prima Facie Disability Rates for Open End Loans, All Classes
Type of Coverage
Class of Business
MP (Premium per $1000 of Outstanding Principal Balance)
Non-retroactive
Retroactive
14 Day
30 Day
14 Day
30 Day
Credit Union Open End, Group I
C
2.68
2.30
3.80
3.35
Group II = 1.1 X (Group I)
Group III = 1.3 X (Group I)
Line of Credit
A
1.92
1.13
2.12
1.38
B
1.61
1.36
1.82
1.66
C
2.68
2.30
3.80
3.35
D
2.00
1.48
3.05
2.23
E
1.42
1.08
1.86
1.46
Credit Card
A
1.92
1.13
2.12
1.38
B
1.61
1.36
1.82
1.66
C
2.68
2.30
3.80
3.35
D
2.00
1.48
3.05
2.23
E
1.42
1.08
1.86
1.46
TABLE 4
Rate Deviation Credibility Table
Average Number of Life Years
Incurred Claim Count
Credibility Factor (“Z”)
Life
Disability (all plans)
14 Day
30 Day
1
1
1
1
.00
1800
141
209
9
.25
2400
188
279
12
.30
3000
234
349
15
.35
4600
359
535
23
.45
5600
438
651
28
.50
6600
516
767
33
.55
7600
594
884
38
.60
9600
750
1116
48
.65
11600
906
1349
58
.70
14600
1141
1698
73
.75
17600
1375
2047
88
.80
20600
1609
2395
103
.85
25600
2000
2977
128
.90
30600
2391
3558
153
.95
40000
3125
4651
200
1.00
The above integers represent the lower end of the bracket for each “Z” factor.
The upper end is 1 less than the lower end for the next higher “Z” factor.
Note: Authority cited: Sections 779.21 and 779.36, Insurance Code. Reference: Sections 779.9 and 779.36, Insurance Code; Sections 18191, 18290-18292, 22314, 22315 and 22455, Financial Code; and Credit Insurance General Agents Association v. Payne, (1976) 16 Cal. 3d 651.
1. New section filed 4-14-94; operative 5-16-94. Submitted to OAL for printing only pursuant to Government Code section 11343(a)(1) (Register 94, No. 15).
2. Editorial correction amending Table 2, Sub Table A and Sub Table B (Register
3. Amendment of Tables 1-3, repealer of Table 5 and amendment of Note filed 10-2-2001; operative 10-1-2001. Submitted to OAL for printing only pursuant to Government Code section 11340.9(g) (Register 2001, No. 40).
4. Amendment of Tables 1 and 2 and Sub Table C filed 1-9-2002; operative 1-9-2002. Submitted to OAL for printing only pursuant to Government Code section 11340.9(g) (Register 2002,, No. 2).