California § 10489.93. 10489.93. (Amended by Stats. 2015, Ch. 658, Sec. 16.)

California Statutes

§ 10489.93. — 10489.93. (Amended by Stats. 2015, Ch. 658, Sec. 16.)

California·Code INS Insurance Code - INS·Div. 2. DIVISION 2. CLASSES OF INSURANCE·Part 2. PART 2. LIFE AND DISABILITY INSURANCE·Ch. 5. CHAPTER 5. General Regulation of Life Insurers·Art. 3a. ARTICLE 3a. Standard Valuation Law

In the case of a plan of life insurance that provides for future premium determination, the amounts of which are to be determined by the insurance company based on then estimates of future experience, or in the case of a plan of life insurance or annuity that is of a nature that the minimum reserves cannot be determined by the methods described in Sections 10489.5, 10489.6, and 10489.9, the reserves that are held under the plan shall:

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

(b)Be computed by a method that is consistent with the principles of this Standard Valuation Law, as determined by regulations promulgated by the commissioner.

Free access — add to your briefcase to read the full text and ask questions with AI

In the case of a plan of life insurance that provides for future premium determination, the amounts of which are to be determined by the insurance company based on then estimates of future experience, or in the case of a plan of life insurance or annuity that is of a nature that the minimum reserves cannot be determined by the methods described in Sections 10489.5, 10489.6, and 10489.9, the reserves that are held under the plan shall:
(a)
Be appropriate in relation to the benefits and the pattern of premiums for that plan; and
(b)
Be computed by a method that is consistent with the principles of this Standard Valuation Law, as determined
by regulations promulgated by the commissioner.

California § 10489.93. (10489.93. (Amended by Stats. 2015, Ch. 658, Sec. 16.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.