Delaware § 1119 Reserve calculation—Indeterminate premium plans

Delaware Statutes

§ 1119 — Reserve calculation—Indeterminate premium plans

Delaware § 1119

JurisdictionDelaware

Title18

PartInsurance

Ch. 11ASSETS AND LIABILITIES

Subch.Life Insurance Reserves

This text of Delaware § 1119 (Reserve calculation—Indeterminate premium plans) is published on Counsel Stack Legal Research, covering Delaware primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Del. Code tit. 18, § 1119 (2026).

Text

(a)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 such a nature that the minimum reserves cannot be determined by the methods described in §§ 1115, 1115A and 1118 of this title, the reserves that are held under the plan shall:

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

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

(b)Notwithstanding any other provision in the laws of this State, a policy, contract, or certi

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

(a) 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 such a nature that the minimum reserves cannot be determined by the methods described in §§ 1115, 1115A and 1118 of this title, the reserves that are held under the plan shall:

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

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

(b) Notwithstanding any other provision in the laws of this State, a policy, contract, or certificate providing life insurance under such a plan shall be affirmatively approved by the Commissioner before it can be marketed, issued, delivered, or used in this State.