Okla. Admin. Code § 365:10-21-7 - Gender-Blended Tables
(a) For any
ordinary life insurance policy delivered or issued for delivery in this state
on and after January 1, 2004, that utilizes the same premium rates and charges
for male and female lives or is issued in circumstances where applicable law
does not permit distinctions on the basis of gender, a mortality table that is
a blend of the 2001 CSO Mortality Table (M) and the 2001 CSO Mortality Table
(F) may, at the option of the company for each plan of insurance, be
substituted for the 2001 CSO Mortality Table for use in determining minimum
cash surrender values and amounts of paid-up nonforfeiture benefits. No change
in minimum valuation standards is implied by this subsection of the
regulation.
(b) The company may
choose from among the blended tables developed by the American Academy of
Actuaries CSO Task Force and adopted by the NAIC in December 2002.
(c) It shall not, in and of itself, be a
violation of Article 12 of the Oklahoma Insurance Laws for an insurer to issue
the same kind of policy of life insurance on both a sex-distinct and
sex-neutral basis.
Notes
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