| (a) The purpose of this subchapter is to establish
the minimum mortality standards for reserves and nonforfeiture values
for preneed life insurance policies or certificates, and to recognize,
permit, and prescribe the use of the Ultimate 1980 CSO in determining
the minimum standard of valuation of reserves and the minimum standard
nonforfeiture values for preneed life insurance policies or certificates
in accordance with Insurance Code §425.058(c), concerning Computation
of Minimum Standard: General Rule, and §1105.055, concerning
Use of Mortality Tables and Interest Rates with Nonforfeiture Net
Level Premium Method, and §4.2825(a) of this title (relating
to General Calculation Requirements for Basic Reserves and Premium
Deficiency Reserves).
(b) This subchapter applies to all preneed life insurance
policies and certificates issued on or after January 1, 2009.
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| Source Note: The provisions of this §4.2831 adopted to be effective December 29, 2008, 33 TexReg 10441; transferred effective September 1, 2023, as published in the July 28, 2023, issue of the Texas Register, 48 TexReg 4127; amended to be effective January 24, 2024, 49 TexReg 250 |
