3 Alaska Admin. Code § 28.640

Current through September 25, 2024

Section 3 AAC 28.640 - Gender-blended mortality tables

(a) An insurer may elect to use a gender-blended mortality table for determining minimum cash surrender values and amounts of paid-up nonforfeiture benefits for each plan of insurance if the

(1) same premium rates and charges are used for male and female lives; or

(2) insurer is prohibited by law from using mortality rates that differ by gender.

(b) An insurer may issue the same type of life insurance policy on both a sex-distinct and sex-neutral basis.

(c) For purposes of this section, "gender-blended mortality table" is a mortality table that is a blend of the male 2001 CSO Mortality Table and the female 2001 CSO Mortality Table.

3 AAC 28.640

Eff. 1/1/2005, Register 172

The 2001 CSO Mortality Tables referenced in 3 AAC 28.640 may be obtained from the Society of Actuaries, 475 N. Martingale Road, Suite 600, Schaumburg, Illinois 60173; telephone number (847) 706-3500.

Authority:AS 21.06.090

AS 21.18.110

AS 21.18.160

AS 21.45.300