N.Y. Comp. Codes R. & Regs. tit. 11, § 100.5 – Conditions for using the 2001 CSO Mortality Table and the 2017 CSO Mortality Table. | Midpage
§ 100.5
N.Y. Comp. Codes R. & Regs. tit. 11, § 100.5
Conditions for using the 2001 CSO Mortality Table and the 2017 CSO Mortality Table.
Insurance
(a) For each plan of insurance with separate rates for smokers and nonsmokers an insurer may use:
(1) composite mortality tables to determine minimum reserve liabilities and minimum cash surrender values and amounts of paid-up nonforfeiture benefits;
(2) smoker and nonsmoker mortality tables to determine the valuation net premiums and additional minimum reserves, if any, required by section 4218 of the Insurance Law and use composite mortality tables to determine the basic minimum reserves, minimum cash surrender values and amounts of paid-up nonforfeiture benefits; or
(3) smoker and nonsmoker mortality to determine minimum reserve liabilities and minimum cash surrender values and amounts of paid-up nonforfeiture benefits.
(b) For plans of insurance without separate rates for smokers and nonsmokers the composite mortality tables shall be used.
(c) For the purpose of determining minimum reserve liabilities and minimum cash surrender values and amounts of paid-up nonforfeiture benefits, the 2001 CSO Mortality Table and the 2017 CSO Mortality Table may, at the option of the insurer for each plan of insurance, be used in its ultimate or select and ultimate form, subject to the restrictions of section 100.6 of this Part and Part 98 of this Title relative to use of the select and ultimate form.
(d) When the 2001 CSO Mortality Table or the 2017 CSO Mortality Table is the minimum reserve mortality standard for any plan for an insurer, the actuarial opinion in the annual statement filed with the superintendent shall be based on an asset adequacy analysis as specified in Part 95 (Regulation 126) of this Title.