N.H. Code Admin. R. Ins 312.05
Waiver of Rules
Commissioner, Insurance Department
(a) The commissioner, upon the commissioner’s own initiative or upon request by an insurer, shall waive any requirement of this part if such waiver does not contradict the objective or intent of the rule and:
- (1) Applying the rule provision would cause confusion or would be misleading to consumers;
- (2) The rule provision is in whole or in part inapplicable to the given circumstances;
- (3) There are specific circumstances unique to the situation such that strict compliance with the rule would be onerous without promoting the objective or intent of the rule provision; or
- (4) Any other similar extenuating circumstances exist such that application of an alternative standard or procedure better promotes the objective or intent of the rule provision.
- (b) No requirement prescribed by statute shall be waived unless expressly authorized by law.
- (c) Any person or entity seeking a waiver shall make a request in writing.
(d) A request for a waiver shall specify the basis for the waiver and proposed alternative, it any.
Source. #12772, eff 6-6-19
APPENDIX I
Sample illustration of flexible premium fixed deferred annuity with a market value adjustment
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endif?For column descriptions, see next page
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endif?APPENDIX II
Sample illustrations of cash surrender values of market value adjusted annuities
MVA-adjusted Cash Surrender Values (CSVs) Under Sample Scenarios
The graphs below show MVA-adjusted Cash Surrender Values (CSVs) during the first five years of the contract, as illustrated on page 2 of the Annuity Illustration example ($100,000 single premium, a 5-year MVA Period) under two sample scenarios, as described below.
Graph #1 shows if the interest rate on new contracts is 3% LOWER than you Initial Guaranteed Interest Rate, the MVA will increase the amount you receive (upper line). The lower line shows the Cash Surrender Values if the Initial Guaranteed Interest Rates continue (From Column 9 on Page 2 of the Annuity Illustration example).
Graph #2 shows if the interest rate on new contracts is 3% HIGHER than your Initial Guaranteed Interest Rate, the MVA will decrease the amount you receive, but not below the minimum set by law (Column 6 on Page 2 of the Annuity Illustration example), which, in this scenario, limits the decrease for the first 2 years (lower line). The upper line shows the Cash Surrender Values if the Initial Guaranteed Interest Rates continue (from column 9 on Page 2 of the Annuity Illustration example).
These graphs and the sample guaranteed interest rates on new contracts used are for demonstration purposes only and are not intended to be a projection of how guaranteed interest rates on new contracts are likely to behave.
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endif?APPENDIX A
Rule
Specific State Statute the Rule Implements
Ins 301.01
RSA 400-A:15, I; RSA 417:1; RSA 417:3; RSA 417:4, I and III
Ins 301.02
RSA 400-A:15, I; RSA 417:1, RSA 417:2; RSA 417:3; RSA 417:4, I and III;
RSA 418:18, VI; RSA 418:21, III; 29 U.S.C. Section 101 et seq
Ins 301.03
RSA 400-A:15, I
Ins 301.04
RSA 400-A:15, I; RSA 417:4, I and III
Ins 301.05
RSA 400-A:15, I; RSA 417:4, I and III
Ins 301.06
RSA 400-A:15, I; RSA 400-B:4; RSA 402-J:3; RSA 405:17-b; RSA 405:44-a;
RSA 417:4, I
Ins 301.07
RSA 400-A:15, I; RSA 417:4, I
Ins 301.08
RSA 400-A:15, I; RSA 417:4, I; RSA 417:10
Ins 301.09
RSA 408:1; RSA 408:12; RSA 294-E; RSA 420-Q:2
Ins 301.10
RSA 400-A:15, I
Ins 302.01
RSA 400-A:15, I; RSA 408:51; RSA 408:53; RSA 408:55; RSA 417:4
Ins 302.02
RSA 400-A:15, I; RSA 408:51; RSA 408:53; RSA 408:55; RSA 417:4
Ins 302.03
RSA 400-A:15, I; RSA 408:51; RSA 408:53; RSA 408:55; RSA 417:4
Ins 302.04
RSA 400-A:15, I; RSA 408:51; RSA 408:53; RSA 408:55; RSA 417:4
Ins 302.05
RSA 400-A:15, I; RSA 408:51; RSA 408:53; RSA 408:55; RSA 417:4
Ins 302.06
RSA 400-A:15, I; RSA 408:51; RSA 408:53; RSA 408:55; RSA 417:4
Ins 302.07
RSA 400-A:15, I; RSA 408:51; RSA 408:53; RSA 408:55; RSA 417:4
Ins 302.08
RSA 400-A:15, I; RSA 408:15; RSA 408:16; RSA 408:29; RSA 408:51;
RSA 408:53; RSA 408:55; RSA 417:4
Ins 302.09
RSA 400-A:15, I and III.; RSA 402-J:12; RSA 408:62; RSA 417:10
Ins 302.10
RSA 400-A:15, I
Appendix A
RSA 400-A:15, I
Appendix B
RSA 400-A:15, I
Appendix C
RSA 400-A:15, I
Ins 303.01
RSA 417:1, RSA 417:2, RSA 417:3 and RSA 409-A:2
Ins 303.03
RSA 409-A:2, RSA 417:3, RSA 417:4
Ins 303.04
RSA 417:4
Ins 303.05
RSA 409-A:3 and RSA 417:4
Ins 303.06
RSA 400-A:15, RSA 417:10 and RSA 541-A:16
Ins 304.01
RSA 400-A:15, I; 415-B
Ins 304.02
RSA 400-A:15, I; 15 U.S.C. 77 et seq. (Securities Act of 1933)
Ins 304.03
RSA 400-A:15, I
Ins 305.01
RSA 402:47; 408:27-29; 408:35; 408:51; 417:4, I., II.
Ins 305.02
RSA 402:47; 408:19; 408:38; 408:40
Ins 305.03
RSA 401:1, III.; 405:1; 405:12
Ins 305.04
RSA 401:1, III.; 402-J:3; 408:27
Ins 305.05
RSA 402:12; 402-J:14, I., IV.; 405:17-b; 408:7; 408:38; 408:40; 408:42-43
Ins 305.06
RSA 401:12; 402-J:14, I., IV.; 405:17-b; 408:38; 408:40; 408:42-43
Ins 305.07
RSA 402-J:14, IV.; 417:10, II.
Ins 305.08
RSA 400-B:1, 3-4
Ins 305.09
RSA 400-A:15, I; RSA 408:1
Ins 306.01
RSA 400-A:15, I; RSA 408:52, II; RSA 417:3 & 4;
Ins 306.02
RSA 400-A:15, I; Securities Act of 1933 (15 U.S.C. Section 77a et seq.); Investment Company Act of 1940 (15 U.S.C. Section 80a·l et seq.)
Ins 306.03
RSA 400-A:15, I; RSA 403-E; RSA 408-E
Ins 306.04
RSA 400-A:15, I; RSA 408:29; RSA 417:3 & 4
Ins 306.05
RSA 400-A:15, I; RSA 417:3 & 4
Ins 306.06
RSA 400-A:15, I; RSA 417:3 & 4
Ins 306.07
RSA 400-A:15, I & III; RSA 417:3 & 4
Ins 306.08
RSA 400-A:15, I
Appendix I
RSA 400-A:15, I
Appendix II
RSA 400-A:15, I
Ins 307.01
RSA 400-A:15, I; 410:2; 410:3; 410:4
Ins 307.02
RSA 400-A:15, I; 410:2; 410:3; 410:4
Ins 307.03
RSA 400-A:15, I; 410:2; 410:3; 410:4
Ins 307.04
RSA 400-A:15, I; 410:2; 410:3; 410:4
Ins 307.05
RSA 400-A:15, I; 410:2; 410:3
Ins 307.06
RSA 400-A:15, I; 410:4; 410:5; 410:6; 410:7; 410:8; 410:9; 410:12; 410:13
Ins 307.07
RSA 400-A:15, I; 410:4; 410:5; 410:6; 410:7; 410:8; 410:9; 410:12; 410:13
Ins 308.01
RSA 400-A:15, I; RSA 400-A:36; RSA 405:45; RSA 405:46; RSA 405:47;
RSA 405:48; RSA 405:49; RSA 405:50; RSA 405:51; RSA 405:52
Ins 308.02
RSA 400-A:15, I; RSA 400-A:36; RSA 405:45; RSA 405:46; RSA 405:47;
RSA 405:48; RSA 405:49; RSA 405:50; RSA 405:51; RSA 405:52
Ins 308.03
RSA 400-A:15, I; RSA 400-A:36; RSA 405:45; RSA 405:46; RSA 405:47;
RSA 405:48; RSA 405:49; RSA 405:50; RSA 405:51; RSA 405:52
Ins 308.04
RSA 400-A:15, I; RSA 400-A:36; RSA 405:45; RSA 405:46; RSA 405:47;
RSA 405:48; RSA 405:49; RSA 405:50; RSA 405:51; RSA 405:52
Ins 308.05
RSA 400-A:15, I; RSA 400-A:36; RSA 405:45; RSA 405:46; RSA 405:47;
RSA 405:48; RSA 405:49; RSA 405:50; RSA 405:51; RSA 405:52
Ins 308.06
RSA 400-A:15, I; RSA 400-A:36; RSA 405:45; RSA 405:46; RSA 405:47;
RSA 405:48; RSA 405:49; RSA 405:50; RSA 405:51; RSA 405:52
Ins 308.07
RSA 400-A:15, I
Ins 309.01
RSA 400-A:15, I; 417:3; 417:4, I, II, VIII, IX, XII
Ins 309.02
RSA 400-A:15, I; 417:3; 417:4, I, II, VIII, IX, XII
Ins 309.03
RSA 400-A:15, I; 417:3; 417:4, I, II, VIII, IX, XII
Ins 309.04
RSA 400-A:15, I; 417:3; 417:4, I, II, VIII, IX, XII
Ins 309.05
RSA 400-A:15, I; 417:3; 417:4, I, II, VIII, IX, XII
Ins 309.06
RSA 400-A:15, I; 417:3; 417:4, I, II, VIII, IX, XII
Ins 309.07
RSA 400-A:15, I; 417:3; 417:4, I, II, VIII, IX, XII
Ins 309.08
RSA 400-A:15, I; 417:3; 417:4, I, II, VIII, IX, XII
Ins 309.09
RSA 400-A:15, I; 417:3; 417:4, I, II, VIII, IX, XII
Ins 309.10
RSA 400-A:15, I; 417:3; 417:4, I, II, VIII, IX, XII
Ins 309.11
RSA 400-A:15, I; 417:3; 417:4, I, II, VIII, IX, XII; 417:10
Ins 309.12
RSA 400-A:15, I; 417:3; 417:4, I, II, VIII, IX, XII
Ins 310
10 U.S.C. 992 note; 15 U.S.C. 78o, 78o-3, 80a-27, 80b-10, 80b-3a and 80b-4;
38 U.S.C. Chapter 19
Ins 310.01
RSA 400-A:15, I.; 408:52; 417:4; 417:5; 417:5-a
Ins 310.02
RSA 400-A:15, I.; 408:52, 417:4; 417:5; 417:5-a
Ins 310.03
RSA 400-A:15, I.; 408:52; 417:4; 417:5; 417:5-a
Ins 310.04
RSA 400-A:15, I.; 408:52; 417:4; 417:5; 417:5-a
Ins 310.05
RSA 400-A:15, I.; 408:52; 417:4; 417:5; 417:5-a
Ins 310.06
RSA 400-A:15, I.; 408:52; 417:4; 417:5; 417:5-a
Also: Military Personnel Financial Services Act of 2006, Pub. L. No. 109-290, 120 Stat. 1317
Ins 311.01
RSA 400-A:15, I; 408:5; 408:13; 408:42; 408:51; 408:52, II; 408:55; 408:60; 408:62; 417:4, I, II, III, IV; 417:5-a
Ins 311.02
RSA 400-A:15, I; 408:5; 408:13; 408:42; 408:51; 408:52, II; 408:55; 408:60; 408:62; 417:4, I, II, III, IV; 417:5-a
Ins 311.03
RSA 400-A:15, I; 408:5; 408:13; 408:42; 408:51; 408:52, II; 408:55; 408:60; 408:62; 417:4, I, II, III, IV; 417:5-a
Ins 311.04
RSA 400-A:15, I; 408:5; 408:13; 408:42; 408:51; 408:52, II; 408:55; 408:60; 408:62; 417:4, I, II, III, IV; 417:5-a
Ins 312.01
RSA 400-A:15, I; RSA 408-D:8; RSA 408-D:17
Ins 312.02
RSA 400-A:15, I; RSA 408-D:17
Ins 312.03
RSA 400-A:15, I; RSA 408-D:2
Ins 312.04
RSA 400-A:15, I; RSA 408-D:8; RSA 408-D:17
Ins 312.05
RSA 400-A:15, I; RSA 408-D:17; RSA 541-A:22, IV
Appendix B Incorporation by Reference Information
Rule
Title of Material
Publisher; How to Obtain; and Cost
Ins 301.03
Life Insurance Buyer’s Guide
© 2018 developed by the National
Association of Insurance Commissioners
Published by the NAIC. Available at no cost at:
https://content.naic.org/sites/default/files/publication
-lig-lp-consumer-life.pdf
Ins 306.03(a)
Annuity Buyer’s Guide
© 1999, 2007, 2013 developed by the National Association of Insurance Commissioners
Published by the NAIC
Available for no cost at:
http://www.naic.org/documents/prod_serv_consumer_anb_la.pdf
Ins 307.01 (a);
Ins 307.03 (b);
Ins 307.04 (a), (b), (d);
Ins 307.05 (a)
The 1983 Table “a” developed by the Society of Actuaries Committee to Recommend a New Mortality Basis for Individual Annuity Valuation.
Published by Society of Actuaries
Available for no cost at:
http://mort.soa.org/
Ins 307.01 (b);
Ins 307.03 (e);
Ins 307.05 (a), (b)
The 1983 Group Annuity Mortality (1983 GAM) Table developed by the Society of Actuaries Committee on Annuities.
Published by Society of Actuaries
Available for no cost at:
http://mort.soa.org/
Ins 307.01 (c);
Ins 307.04 (b), (c)
Annuity 2000 Mortality Table developed by Society of Actuaries Committee on Life Insurance Research
Published by Society of Actuaries
Available for no cost at:
http://mort.soa.org/
Ins 307.01 (d);
Ins 307.03 (b);
Ins 307.04 (d)
The 2012 Individual Annuity Reserving (2012 IAR) Mortality Table developed by the Society of Actuaries Committee on Life Insurance Research
Published by Society of Actuaries
Available for no cost at:
http://mort.soa.org/
Ins 307.01 (e);
Ins 307.03 (f);
Ins 307.05 (a), (b), (c);
Ins 307.06
The 1994 Group Annuity Reserving (1994 GAR) Table developed by the Society of Actuaries Group Annuity Valuation Table Task Force
Published by Society of Actuaries
Available for no cost at:
http://mort.soa.org/
Ins 307.03 (b), (h)
Projection Scale G2 (Scale G2) developed by the Society of Actuaries Committee on Life Insurance Research
Published by Society of Actuaries
Available for no cost at:
http://mort.soa.org/
Ins 307.03 (b), (i)
2012 Individual Annuity Mortality Period Life (2012 IAM Period) Table developed by the Society of Actuaries Committee on Life Insurance Research
Published by Society of Actuaries
Available for no cost at:
http://mort.soa.org/
Ins 309.10 (b)
Actuarial Standards of Practice for Compliance with the NAIC Model Regulation on Life Insurance Illustrations, No. 24
Online for no cost: www.actuarialstandardsboard.org
Ins 311.04(b)(3)
Accrediting Agencies Recognized for Title IV Purposes, prepared by the U.S. Department of Education; Publication date 9/1/98
Online for no cost at:
https://ifap.ed.gov/aagencies/doc0023_bodyoftext.htm
Ins 311.04(d)(2)
Investment Company Act of 1940, an act of Congress in 1940
Online for no cost at:
https://www.sec.gov/about/laws/ica40.pdf