SECTION
1. Preamble and authority.
2. Purpose.
3. Definitions.
4. Rule.
4A. Alternate Rule.
5. Unfair discrimination.
6. Separability.
7. Effective date.
Effective September 12, 1984
Sectin 1. Preamble and authority.
I, George Dale, duly elected Commissioner of Insurance of the State of Mississippi, pursuant to the authority granted me in Section 83-7-25, Mississippi Code of 1972, as Amended, and in accordance with Sections 25-43-1 through 25-43-19, Mississippi Code of 1972, known as the Mississippi Administrative Procedure Law, do hereby promulgate the following Rules and Regulation with an effective date as herein set forth in Section 7, upon compliance with the applicable statutes.
Section 2. Purpose.
The purpose of this Regulation is to permit individual life insurance policies to provide the same cash surrender values and paid-up. nonforfeiture benefits to both men and women. No change in minimum valuation standards is implied by this rule.
Section 3. Definitions.
A. As used
in this Regulation, "1980 CSO Table, with or without Ten Year Select Mortality
Factors" means that mortality table, consisting of separate rates of mortality
for male and female lives, developed by the Society of Actuaries CoTmttee
to Recommend New Mortality Tables for Valuation of Standard Individual
Ordinary Life
Insurance,
incorporated in the 1980 NAIC Aimendments 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.
B. As used in this Regulation, "1980 CSO Table (M), with or without Ten-Year Select Mortality Factors.
C. As used in this Regulation, "1980 CSO Table (F), with or Ten-Year Select Mortality Factors" means that mortality table consisting of the rates of mortality, or female lives from the 1980 CSO Table, with or without Ten-Year Select Mortality Factors.
D. As used in this Regulation, "1980 CET Table" means that mortalitv table consisting of seoarate 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 NAITC Amendments to the Model Standard Valuation Law and Standard Nonforfeiture Law for Life insurance, and referred to in those models as the Commissioner 1980 Extended Term insurance Table.
E. As used in this Rule, "1980 CET Table (M) means that mortality table consisting of the rates of mortality for male lives from the 1980 CET Table.
F. As used in this Rule, "1980 CET Table (F) means that mortality table consisting of the rates of mortality for female lives from the 1980 CET Table.
G. As used in this regulation, "1980 CSO and 1980 CET Smoker and Non-Smoker Mortality Tables" mean the mortality tables with separate rates and mortality for smokers and non-smokers derived from the 1980 CSO and 1980 CET Mortality Tables by the Society of Actuaries Task Force on Smoker/Non-Smoker Mortality and Adopted by the NAIC in December 1983.
Section 4. Rule.
For any policy of insurance on the life of either a male or female insured delivered or issued for delivery in this state after the operative date of Section 83-7-25(5-c)(K) for that policy form,
(i) a mortalitv table u-hich is a blend of the 1980 CSO Table (M) and the 1980 CSO Table (F) with or without Ten-Year Select Mor-tality Factors may at the option of the company be substituted for the 1980 CSO Table, with or without Ten-Year Select Mortality Factors, and
(ii) a mortality table which is of the same blend as used in (i) but applied to form a blend of the 1980 CET Table (M) and the 1980 = Table (F) may at the option of the company be substituted for the 1980 Table for use in detexrnining minimum cash surrender values and amounts of paid-up nonforfeiture benefits.
The following tables will be considered as the basis for acceptable tables:
A. 100% Male 0% Female for tables to be designed as the "1980 CSO-A" and "1980 CET-A" tables.
B. 80% Male 20% Female for tables to be designated as the "1980 CSO-B" and "1980 CET-B" tables.
C. 60% Male 40% Female for tables to be designated as the "1980 CSO-C" and "1980 CET-C" tables.
D. 50% Male 50% Female for tables to be desicgnated as the "1980 CSO-D" and "1980 CET-D" tables.
E. 40% Male 60% Female for tables to be designated as the "1980 CSO-E" and "1980 CET-E" tables.
F. 20% Male 80% Female for tables to be designated as the "1980 CSO-F" and "1980 CET-F" tables.
G. 0% Male 100% Female for tables to be designated as the "1980 CSO-G" and "1980 CET-G" tables.
Tables A and
G are not to be used with respect to policies issued on or after January
1, 1985, except where the proportion of persons insured is anticipated
to be 90% or more of one sex or the other or except for certain policies
converted from group insurance. Such group conversions issued on or after
January 1, 1986 must use Mortality Tables based on the blend of lives by
sex expected for such policies if such group conversions are considered
as extensions of the Norris decision. This consideration has not been clearly
defined by court or legislative action in all jurisdictions. The values
of 1000 qx for blended Tables B,C,D,E and F are shown in Appendix I. The
letter of Appendix II states
the method
by which selection factors mav be obtained. Table A is the same as 1980
CSO Table (M) and 1980 Table (M) and Table G is the same as 1980 CSO Table
(F) and 1980 Table (F).
Section 4A. Alternate Rule*
In determning miinimum cash surrender values and amounts of paid-up nonforfeiture benefits for any policy of insurance on the life of either a male or female insured on a form of insurance with separate rates for smokers and nonsmokers delivered or issued for delivery in this state after the operative date of Section insert applicable reference corresponding to paragraph 5-c(11) of the NAIC Model Standard Nonforfeiture Law for Life Insurance for that policy form, in addition to the mortalitv tables that'n-ay be used according to Section 4,
(i) a mortality table which is a blend of the male and female rates of mortality according to the 1980 CSO Smoker Mortality Table, in the case of lives classified as smokers, or the 1980 CSO Nonsmoker Mortality table, in the case of lives classified as nonsmokers, with or without ten-year Select Mortality Factors, may at the option of the Company be substituted for the 1980 CSO Table, with or without Ten-Year Select Mortality Factors,.and
Section 4A,added
by NAIC, December 1986.
(ii) a mortality table wnich is of the same blend as used in (i) but applied to form a blend of the male and female rates of mortality according to the corresponding 1980 CET Smoker Mortality Table or 1980 Nonsmoker Mortality Table may at the option of the company be substituted for the 198O CET Table.
The following blended mortality tables will be considered acceptable:
SA: 100% Male 0% Female smoker tables designated as "1980 CSC-SA" and "1980 CET-SA" Tables.
SB: 80% Male 20% Feniale smoker tables and designated as "1980 CSO-SB" and "1980 CET-SB" tables.
SC: 60% Male 40% Female smoker tables designated as "1980 CSO-SC" and "1980 CET-SC" Tables.
SD: 50% Male 50% Female smoker tables designated as "1980 CSO-SD" and "1980 CET-SD" Tables.
SE: 40% Male 60% Female smoker tables designated as "1980 CSO-SE" and "1980 CET-SE" Tables.
SF: 20% Male and 80% Female smoker tables designated as "1980 CSO-SF" and "1980 CET-SF" Tables.
SG: 0% Male and 100% Female smoker tables designated as "1980 CSO-SG" and "1980 CET-SG" Tables.
NA: 100% Male 0% Female nonsmoker tables designated as "1980 CSO-NA" and "1980 CET-NA" Tables.
NB: 80% Male 20% Female nonsmoker tables designated as "1980 CSO-NB" and "1980 CET-NB" Tables.
NC: 60% Male 40% Female nonsmoker tables designated as "1980 CSO-NC" and "1980 CET-NC" Tables.
ND: 50% Male 50% Female nonsmoker tables designated as "1980 CSO-ND" and "1980 CET-ND" Tables.
NE: 40% Male 60% Female nonsmoker tables designated as "1980 CSO-NE" and "1980 CET-NE" Tables.
NF: 20% Male 80% Female nonsmoker tables designated as "1980 CSO-NF" and "1980 CET-NF" Tables.
NG: 0% Male
100% Female nonsmoker tables desicnated as "1980 CSO-NG" and "1980 CET-NG"
Tables.
Tables SA, SG, NA and NG are not acceptable as blended tables unless the proportion of persons insured is anticipated to be 90% or mre of one sex or the other.
Section 5. Unfair Discrimination.
It shall not be a violation of Section 83-5-35 for an insurer to issue the same kind of policy of life insurance on both a sex-distinct and sex-neutral basis.
Section 6. Separability.
If any provision of this Regulation or the application thereof to any person or circumstance is for any reason held to be invalid, the remainder of the reaulation and the application of such provision to other persons or circumstances shall not be affected thereby.
Section 7. Effective Date.
The effective
date this regulation shall be thirty (30) days from and after its adoption
and filing with the Secretary of the State of Mississippi.
GEORGE
DALE
COMMISSIONER
OF INSURANCE
TABLE B APPENDIX I
Age
LX 10000QX
Age LX
10000QX Age
LX
10000QX
0
136260 3.92
35 129726
2.02
70
88643
35.59
1
135726 1.04
36 129464
2.14
71
85468
38.95
2
135585 .95
37 129187
2.3
72
82158
42.84
3
135456 .94
38 128890
2.47
73 78638
47.23
4
135329 .91
39 128872
2.68
74
74916
52.37
5
135206 .87
40 128227
2.9
75
70993
57.84
6
135088 .63
41 127855
2.16 76
66867
63.65
7
134976 .79
42 127451
3.42 77
62630
69.7
8
134869 .75
43 127015
3.72 78
58265
75.95
9
134768 .73
44 126543
4.01 79
538410 62.57
10
134670 .72
45 126036
4.35 80
49394
89.83
11
134573 .75
46 125493
4.7
81
44957
97.94
12
134472 .83
47 124898
5.07 82
40554
107.18
13
134360 .94
48 124265
5.45 83
36207
117 .65
14
134234 1.08
49 123588
5.89 84
31947
129.1
15
134089 1.24
50 122860
6.36 85
27823
141.38
16
133923 1.39
51 122079
6.9
86
23889
154.17
17
133737 1.53
52 121237
7.5
87
20206
167.49
18
131532 1.62
53 120328
8.19 88
16622
181.24
19
133316 1.69
54 119343
8.96 89
13773
195.54
20
133091 1.74
55 118274
9.78 90
11080
210.83
21
132859 1.75
56 117117
10.67 91
8747
226.51
22
132626 1.73
57 115867
11.58 92
6766
244.13
23
132397 1.71
58 114525
12.54 93
5114
264.04
24
132171 1.69
59 113089
13.87 94
3764
289.36
25
131948 1.65
60 111554
14.72 95
2675
324.89
26
131730 1.63
61 109912
16
96
1806
380.97
27
131515 1.61
62 108153
17.47 97
1118
477.69
28
131303 1.61
63 106264
19.16 98
534
657.38
29
131092 1.63
64 104228
21.05 99
200
1000
30
130878 1.65
65 102034
23.11
31
130662 1.7
66 99676
25.29
32
130440 1.7
67 97155
27.61
33
130212 1.83
68 94473
30.03
34
129974 1.91
69 91636
32.66
Age LX 10000QX Age LX 10000QX Age LX 10000QX
0
2437508 5.1
35 2259396
2.77
70 1374633
46.27
1
2425077 1.79
36 2253137
2.89
71 1311219
50.64
2
2420736 1.7
37 2246625
3.05
72 1244819
55.69
3
2416621 1.69
38 2239773
3.22
73 1175495
61.53
4
2412537 1.66
39 2232561
3.48
74 1103167
68.08
5
2406532 1.62
40 2224792
3.77
75 1026063
75.19
6
2404630 1.68
41 2216405
4.11
76 950763
82.75
7
2400831 1.54
42 2207296
4.45
77 872087
90.61
8
2397134 1.5
43 2197474
4.84
78 793067
98.74
9
2393538 1.48
44 2186838
5.21
79 714760
107.34
10
2189996 1.47
45 2175445
5.66
80 638038
116.78
11
2386483 1.5
46 2163132
6.11
81 563528
127.32
12
2382903 1.58
47 2149915
6.59
82 491780
139.33
13
2379138 1.69
48 2135747
7.09
83 423260
152.95
14
2375117 1.63
49 2120605
7.66
84 358522
167.83
15
2370771 1.99
50 2104361
8.27
85 298351
183.79
16
2366053 2.14
51 2086958
8.97
86 243517
200.42
17
2360990 2.28
52 2068238
9.75
87 194711
217.74
18
2355607 2.37
53 2048073
10.65
88 152315
235.61
19
2350024 2.44
54 2026261
11.65
89 116428
254.2
20
2344290 2.49
55 2002655
12.71
90 86832
273.69
21
2338453 2.5
56 1977201
13.87
91 63067
294.46
22
2332607 2.48
57 1949777
15.05
92 44496
317.37
23
2326622 2.46
58 1920433
16.3
93 30374
343.25
24
2321098 2.44
59 1889130
17.64
94 19948
376.17
25
2315435 2.4
60 1855806
19.14
95 12444
422.36
26
2309878 2.38
61 1820286
20.8
96 7188
495.26
27
2304380 2.36
62 1782424
22.71 97
3628
621
28
2298942 2.36
63 1741945
24.91 98
1375 854.59
29
2293S16 2.38
64 1698553
27.37 99
200 .1000
30
2288057 2.4
65 1652064
30.04
31
2282566 2.45
66 1602436
32.88
32
2276974 2.5
67 1549748
35.89
33
2271282 2.58
68 1494128
39.04
34
2265422 2.66
69 1435797
42.46
TABLE C APPENDIX I
Age LX 10000QX Age LX 10000QX Age LX 10000QX
0
107405
3.67
35 102562
1.93
70 72370
31.92
1
107011
.99
36 102364
2.04
71 70060
34.9
2
106905
.93
37 102155
2.2
72 67615
38.38
3
106806
.9
38 101930
2.36
73 65020
42.48
4
106710
.88
39 101689
2.56
74 62258
47.11
5
106616
.84
40 101429
2.78
75 59325
52.16
6
106526
.81
41 101147
3.03
76 56231
57.58
7
106440
.77
42 100841
3.29
77 52993
63.24
8
106358
.73
43 100509
3.56
78 49642
69.13
9
106280
.73
44 100151
3.84
79 46210
75.41
10
106202 .71
45 99766
4.15
80 42725
82.34
11
106127 .74
46 99352
4.47
81 39207
90.17
12
106048 .8
47 98908
4.81
82 35672
99.12
13
105963 .89
48 98432
5.17
83 32136
109.33
14
105869 1.01
49 97923
5.58
84 28623
120.58
15
105762 1.14
50 97377
6.01
85 25172
132.68
16
105641 1.27
51
96792
6.5
86 21832
145.47
17
105507 1.38
52
96163
7.05
87 18656
158.84
18
105361 1.47
53
95485
7.68
88 15693
172.87
19
105206 1.52
54
94752
8.37
89 12980
187.54
20
105046 1.56
55
93959
9.11
90 10546
203.08
21
104882 1.58
56
93103
9.88
91 8404
219.76
22
104716 1.58
57
92183
10.68
92 6857
238.2
23
104551 1.56
58
91198
11.5
93 4995
259.26
24
104388 1.55
59
90149
12.39
94 3700
285.17
25
104226 1.53
60
89032
13.37
95 2645
322.03
26
104067 1.52
61
87842
14.48
96 1793
378.56
27
103909 1.51
62
86570
15.79
97 1114
476.7
28
103752 1.53
63
85203
17.3
98 583
657.1
29
103593 1.54
64
83729
19.01
99 200
1000
30
103433 1.58
65
82137
20.88
31
103270 1.63
66
80422
22.84
32
103102 1.67
67
78585
24.9
33
102930 1.75
68
76628
27.04
34
102750 1.83
69
74556
29.32
Age LX 10000QX Age LX 10000QX Age LX 10000QX
0
1760557 4 .77
35 1636971
2.68
70 1038798
41 .5
1
1752159 1 .74
36 1632564
2 .79
71 995688
45 .37
2
1749110 1.68
37 1628029
2.95
72 950514
49.89
3
1746171 1 .65
38 1623226
3.11
73 903093
55.22
4
1743290 1.63
39 1618178
3.33
74 853224
61 .24
5
1740448 1.59
40
1612789
3.61 75
800973 67.81
6
1737661 1.56
41
1606967
3.94 76
746659 7 4 .65
7
1734970 1.52
42 1600636
4.28 77
690772 82.21
8
1732333 1.48
43
1593785 4.63
78 631984
89.87
9
1729769 1.48
44
1586406 4.109
79 577008
98.03
10
1727209 1.46
45
1578490
5.4 80
520444 107.04
11
1724687 1.49
46
1569966
5.81 81
464736 117 .22
12
1727117 1.55
47
1560844
6.25 82
410260 128.86
13
1719448 1.64
48
1551089
6.72 83
387394 142 .13
14
1716628 1.76
49
1540660
7.25 84
306598 156.75
15
1713607 1.89
50
1529496
7.81 85
258539 112.148
16
1710368 2.02
51
1517551
8.45 86
213946 189.11
17
1706913 2.13
52
1504728
9.17 87
173487 206.49
18
1703277 2.22
53
1490930
9.98 88
137664 224.73
19
1699496 2.27
54
1476051
10.88 89
106727 243.8
20
1695638 2.31
55
1459992
11.84 90
80707 264
21
1691721 2.33
56
1442706
12.84 91
59400 285.69
22
1687779 2.33
57
1424182
13.88 92
42430 309.66
23
1683846 2.31
58
1404414
14.95 93
29291 337 .04
24
1679956 2.3
59
1383418
16.11 94
19419 370.72
25
1676092 2.28
60
1361131
17.38 95
12220 418.64
26
1672271 2.27
61
1337475
18.82 96
7104 492.13
27
1668475 2.26
62
1312304
20.53 97
3608 619.71
28
1664704 2.28
63
1285362
22.49 98
1372
854.23
29
1660908 2.29
64
1256454
24.71 99
200
1000
30
1657105 2.33
65
1225407
27.14
31
1653244 2.38
66
1192149
29.69
32
1649309 2.42
67
1156754
32.37
33
1645318 2.5
68
1119310
35.15
34
1641205 2.58
69
1079966
38.12
TABLE D APPENDIX I
Age LX 10000QX Age LX 10000QX Age LX 10000QX
0
96981
3.54
35 92750
1.88
70 66485
30.16
1
96638
.97
36 92576
2.00
71 64480
32.96
2
96544
.91
37 92391
2.14
72 62355
36.29
3
96456
.89
38 92193
2.31
73 60092
40.20
4
96370
.85
39 91980
2.51
74 57676
44.66
5
96288
.83
40 91749
2.72
75 55100
49.55
6
96208
.79
41 91499
2.97
76 52370
54.80
7
96132
.77
42 91227
3.22
77 49500
60.31
8
96058
.73
43 90933
3.49
78 46515
66.06
9
95988
.72
44 90616
3.75
79 43442
72.23
10
95919
.71
45 90276
4.06
80 40304
79.07
11
95851
.72
46 89909
4.36
81 37117
86.80
12
95782
.78
47 89517
4.68
82 33895
95.68
13
95707
.87
48 89096
5.03
83 30652
105.81
14
95624
.97
49 88650
5.41
84 27409
117.02
15
95531
1.10
50 88170
5.83
85 24202
129.11
16
105426 1.21
51 87656
6.30
86 21077
141.91
17
95311
1.31
52 87104
6.82
87 18086
155.41
18
95186
1.39
53 86510
7.42
88 15275
169.55
19
95054
1.44
54 85868
8.07
89 12685
184.45
20
94917
1.48
55 85175
8.77
90 10345
200.23
21
94777
1.49
56 84428
9.50
91 8274
217.23
22
94636
1.50
57 83626
10.23
92 6477
235.91
23
944941
1.49
58 82771
10.99
93 4949
257.43
24
94353
1.49
59 81861
11.81
94 3675
283.81
25
94212
1.47
60
80894
12.71
95 2632
320.74
26
94074
1.47
61
79866
13.75
96 1788
377.93
27
93936
1.46
62
78768
14.96
97 1112
476.61
28
937910
1.48
63
77590
16.39
98 582
656.44
29
93660
1.51
64
76318
18.02
99
200 1000.00
30
93519
1.54
65
74943
19.78
31
93375
1.58
66
73461
21.64
32
93227
1.64
67
71871
23.59
33
93074
1.70
68
70176
25.58
34
92916
1.79
69
68381
27.73