N.Y. Comp. Codes R. & Regs. tit. 11, § 100.3 – Definitions.

(a) 2001 CSO Mortality Table means that mortality table, consisting of separate rates of mortality for male and female lives, developed by the American Academy of Actuaries CSO Task Force from the Valuation Basic Mortality Table developed by the Society of Actuaries Individual Life Insurance Valuation Mortality Task Force, and adopted by the NAIC in December 2002. These tables are included in Appendix 25 of this Title as Tables 1-24. Unless the context indicates otherwise, the 2001 CSO Mortality Table includes both the ultimate form of that table and the select and ultimate form of that table and includes both the smoker and nonsmoker mortality tables and the composite mortality tables. It also includes both the age-nearest-birthday and age- last-birthday bases of the mortality tables.
(b) 2001 CSO Mortality Table (F) means that mortality table consisting of the rates of mortality for female lives from the 2001 CSO Mortality Table.
(c) 2001 CSO Mortality Table (M) means that mortality table consisting of the rates of mortality for male lives from the 2001 CSO Mortality Table.
(d) 2001 CSO Preferred Class Structure Mortality Table means that mortality table with separate rates of mortality for super preferred nonsmoker, preferred nonsmoker, residual standard nonsmoker, preferred smoker, and residual standard smoker splits of the 2001 CSO Nonsmoker and Smoker tables, developed by Tillinghast for the American Council of Life Insurers, and adopted by the NAIC in September 2006. These tables are included in Appendix 25A of this Part as Tables 1-40. Unless the context indicates otherwise, the 2001 CSO Preferred Class Structure Mortality Table includes both the ultimate form of that table and the select and ultimate form of that table. It includes the smoker and nonsmoker mortality tables. It includes both the male and female mortality tables. It also includes both the age-nearest-birthday and age-last-birthday bases of the mortality table.
(e) 2001 Valuation Basic Preferred Class Structure Mortality Table (2001 VBT) means that mortality table with separate rates of mortality for super preferred nonsmokers, preferred nonsmokers, residual standard nonsmokers, preferred smokers, and residual standard smoker splits of the 2001 Valuation Basic Mortality Nonsmoker and Smoker tables, developed by Tillinghast for the American Council of Life Insurers, and adopted by the NAIC in September 2006. These tables are included in Appendix 25B of this Part as Tables 1-40.
(f) 2017 CSO Mortality Table means that mortality table, consisting of separate rates of mortality for male and female lives, developed by the CSO Subgroup of the Joint American Academy of Actuaries Life Experience Committee and Society of Actuaries Preferred Mortality Oversight Group from the Valuation Basic Mortality Table developed by the joint group’s Valuation Basic Mortality Subgroup, and adopted by the NAIC in April 2016. These tables are included in Appendix 25C of this Title as Tables 1-24. Unless the context indicates otherwise, the 2017 CSO Mortality Table includes both:
1. (1) the ultimate form of that table and the select and ultimate form of that table;
2. (2) the smoker and nonsmoker mortality tables and the composite mortality tables; and
3. (3) the age-nearest-birthday and age-last-birthday bases of the mortality tables.
(g) 2017 CSO Mortality Table (F) means that mortality table consisting of the rates of mortality for female lives from the 2017 CSO Mortality Table.
(h) 2017 CSO Mortality Table (M) means that mortality table consisting of the rates of mortality for male lives from the 2017 CSO Mortality Table.
(i) 2017 CSO Preferred Class Structure Mortality Table means that mortality table with separate rates of mortality for super preferred nonsmokers, preferred nonsmokers, residual standard nonsmokers, preferred smokers, and residual standard smoker splits of the 2017 CSO Nonsmoker and Smoker Tables as adopted by the NAIC in April 2016. These tables are included in Appendix 25D of this Title as Tables 1-40. Unless the context indicates otherwise, the 2017 CSO Preferred Class Structure Mortality Table includes both:
1. (1) the ultimate form of that table and the select and ultimate form of that table;
2. (2) the smoker and nonsmoker mortality tables and the male and female mortality tables; and
3. (3) the age-nearest-birthday and age-last-birthday bases of the mortality table.
(j) 2017 Unloaded CSO Preferred Class Structure Mortality Table means that mortality table with separate rates of mortality for super preferred nonsmokers, preferred nonsmokers, residual standard nonsmokers, preferred smokers, and residual standard smoker splits of the 2017 Unloaded CSO Nonsmoker and Smoker Tables developed by the CSO Subgroup of the Joint American Academy of Actuaries Life Experience Committee and Society of Actuaries Preferred Mortality Oversight Group. These tables are included in Appendix 25E of this Title as Tables 1-40.
(k) Anticipated mortality means the appointed actuary's assumption about the mortality to be experienced in the future on a group of insured lives.
(l) Appointed actuary means any individual who is appointed or retained in accordance with the requirements set forth in Part 95 of this Title.
(m) Basic reserves means reserves calculated in accordance with section 4217(c)(6) of the Insurance Law.
(n) Class means a group of policies under one or more plans of insurance that has similar anticipated mortality, as grouped together by the insurer.
(o) Composite mortality tables means mortality tables with rates of mortality that do not distinguish between smokers and nonsmokers.
(p) Credibility means a measure of the predictive value in a given application that the appointed actuary attaches to a particular body of data. As used in this Part, predictive refers to the statistical sense, and not in the sense of predicting the future.
(q) Deficiency reserves means the excess, if any, of minimum reserves established in accordance with section 4218 of the Insurance Law over basic reserves.
(r) Full credibility means the level at which a particular body of data is assigned full predictive value based on a selected confidence interval.
(s) Guaranteed issue life insurance policy means a life insurance policy or certificate whereby the insurer must issue the policy to an applicant if the applicant is eligible, where eligibility requirements may include being within a specified age range or being an active member in an eligible group; provided however, that a guaranteed issue life insurance policy shall not include any of the following characteristics or any of the following product types:
1. (1) actively at work requirement;
2. (2) employer groups;
3. (3) acceptance based on any health-related questions or information;
4. (4) waiving of underwriting requirements based on minimum participation thresholds, such as for worksite marketing;
5. (5) corporate-owned life insurance or bank-owned life insurance;
6. (6) credit life contracts;
7. (7) juvenile-only products, such as insurance covering anyone under the age of 15 years;
8. (8) preneed life contracts; and
9. (9) policies and certificates issued as a result of exercising a provision, such as conversion or guaranteed insurability option riders, under a policy, rider or certificate that do not themselves qualify as a guaranteed issue life insurance policy.
(t) Minimum mortality standard means the standards prescribed in Insurance Law section 4217(c)(2)(A) and regulations promulgated thereunder.
(u) Mortality improvement scale LT means annual rates, LT1 and LT2, of mortality improvement by policy year, to be used for projecting future mortality rates, as described in sections 100.11(d)(2) and 100.12(d)(2) of this Part.
(v) Preferred class actuarial certification means the actuarial certification required by section 100.9 of this Part.
(w) Smoker and nonsmoker mortality tables means mortality tables with separate rates of mortality for smokers and nonsmokers.
(x) Statistical agent means an entity with proven systems for protecting the confidentiality of individual insured and insurer information; demonstrated resources for and history of ongoing electronic communications and data transfer ensuring data integrity with insurers, that are the statistical agent's members or subscribers; and a history of and means for aggregation of data and accurate promulgation of the experience modifications in a timely manner.
(y) Superintendent means the Superintendent of Financial Services of the State of New York.
(z) Underwriting-based justification means the incorporation of underwriting criteria for use in setting the anticipated mortality assumption.
(aa) Underwriting class means the insurer's designation of insureds into a particular premium rate structure, e.g., super preferred, preferred, or standard.
(ab) Varying premium term life insurance means a policy with an initial level premium rate guaranteed for up to 30 years ending at or before age 80 followed by increasing guaranteed premiums thereafter.
(ac) Valuation Basic Table means the unloaded version of the applicable Commissioners Standard Ordinary table.