211 CMR, § 32.04 - Definitions
(1)
1980 CSO Table, with or
without Ten-YearSelectMortalityFactors means that mortalitytable,
consisting of separate rates of mortality for male and female lives, developed
by the Society of Actuaries Committee to Recommend New Mortality Tables for
Valuation of Standard Individual Ordinary Life Insurance, incorporated in the
1980 NAIC Amendments to the Model Standard Valuation Law and Standard
Nonforfeiture Law for Life Insurance, and referred to in those models as the
Commissioners 1980 Standard Ordinary Mortality Table, with or without Ten-Year
Select Mortality Factors. The same select factors will be used for both smoker
and nonsmoker tables.
(2)
1980 CSO Table (M), with or without Ten-Year Select Mortality
Factors means that mortality table consisting of the rates of
mortality for male lives from the 1980 CSO Table, with or without Ten-Year
Select Mortality Factors.
(3)
1980 CSO Table (F), with or without Ten-Year Select Mortality
Factors means that mortality table consisting of the rates of
mortality for female lives from the 1980 CSO Table, with or without Ten-Year
Select Mortality Factors.
(4)
1980 CET Table means that mortality table consisting
of separate rates of mortality for male and female lives, developed by the
Society of Actuaries Committee to Recommend New Mortality Tables for Valuation
of Standard Individual Ordinary Life Insurance, incorporated in the 1981 NAIC
Amendments to the Model Standard Valuation Law and Standard Nonforfeiture Law
for Life Insurance, and referred to in those models as the Commissioners 1981
Extended Term Insurance Table.
(5)
1980 CET Table (M) means that mortality table
consistingofthe rates ofmortality for male lives from the 1980 CET
Table.
(6)
1980 CET
Table (F) means that mortality table consisting of the rates of
mortality for female lives from the 1980 CET Table.
(7)
1958 CSO Table
means that mortality table developed by the Society of Actuaries Special
Committee on New Mortality Tables, incorporated in the NAIC Model Standard
Nonforfeiture Law for Life Insurance, and referred to in that model as the
Commissioners 1958 Standard Ordinary Mortality Table.
(8)
1958 CET Table
means that mortality table developed by the Society of Actuaries Special
Committee on New Mortality Tables, incorporated in the NAIC Model Standard
Nonforfeiture Law for Life Insurance, and referred to in that model as the
Commissioners 1958 Extended Term Insurance Table.
(9)
Smoker and nonsmoker
mortality tables refers to the mortality tables with separate
rates of mortality for smokers and nonsmokers derived from the tables defined
in 211 CMR 32.04(1), (4), (7) and (8) which were developed by the Society of
Actuaries Task Force on Smoker/Nonsmoker Mortality and the California Insurance
Department staff, recommended by the NAIC Technical Staff Actuarial Group, and
published in the 1984 Proceedings of the National Association of
Insurance Commissioners, Volume 1, pages 402-413.
(10)
Composite mortality
tables refers to the mortality tables defined in 211 CMR 32.04(1),
(4), (7) and (8) as they were originally published with rates ofmortalitythat
do not distinguish between smokers and nonsmokers.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.