Administrative Code

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Virginia Administrative Code
Title 14. Insurance
Agency 5. State Corporation Commission, Bureau of Insurance
Chapter 319. Life Insurance Reserves

14VAC5-319-20. Purpose.

A. The purpose of this regulation is to provide:

1. Tables of select mortality factors and rules for their use;

2. Rules establishing minimum valuation and reserve standards for plans with nonlevel premiums or benefits; and

3. Rules establishing minimum valuation and reserve standards for plans with secondary guarantees.

B. The method for calculating basic reserves defined in this regulation will constitute the Commissioners' Reserve Valuation Method for policies to which this regulation is applicable.

Statutory Authority

§§ 12.1-13 and 38.2-223 of the Code of Virginia.

Historical Notes

Derived from Virginia Register Volume 16, Issue 6, eff. January 1, 2000.

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