Alabama § 27-36A-13 Reserve Calculation - Indeterminate Premium Plans

Alabama Statutes

§ 27-36A-13 — Reserve Calculation - Indeterminate Premium Plans

Alabama § 27-36A-13

Title 27Insurance

Ch. 36AStandard Valuation Law

This text of Alabama § 27-36A-13 (Reserve Calculation - Indeterminate Premium Plans) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 27-36A-13 (2026).

Text

In the case of any plan of life insurance which provides for future premium determination, the amounts of which are to be determined by the company based on then estimates of future experience, or in the case of any plan of life insurance or annuity which is of a nature that the minimum reserves cannot be determined by the methods described in Sections 27-36A-8, 27-36A-9, and 27-36A-12, the reserves which are held under any plan shall comply with both of the following:

(1)Be appropriate in relation to the benefits and the pattern of premiums for that plan.

(2)Be computed by a method which is consistent with the principles of this standard valuation law, as determined by regulations promulgated by the commissioner.

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In the case of any plan of life insurance which provides for future premium determination, the amounts of which are to be determined by the company based on then estimates of future experience, or in the case of any plan of life insurance or annuity which is of a nature that the minimum reserves cannot be determined by the methods described in Sections 27-36A-8, 27-36A-9, and 27-36A-12, the reserves which are held under any plan shall comply with both of the following:
(1) Be appropriate in relation to the benefits and the pattern of premiums for that plan.
(2) Be computed by a method which is consistent with the principles of this standard valuation law, as determined by regulations promulgated by the commissioner.