Missouri § 378.625 Valuation of certificates, standards — reserves, excess permitted.

Missouri Statutes

§ 378.625 — Valuation of certificates, standards — reserves, excess permitted.

Missouri § 378.625

Title XXIVBUSINESS AND FINANCIAL INSTITUTIONS

Ch. 378Fraternal Benefit Societies

This text of Missouri § 378.625 (Valuation of certificates, standards — reserves, excess permitted.) is published on Counsel Stack Legal Research, covering Missouri primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mo. Rev. Stat. § 378.625 (2026).

Text

1. Standards of valuation for certificates issued prior to one year after January 1, 1993, shall be those provided by the laws applicable immediately prior to January 1, 1993. 2. The minimum standards of valuation for certificates issued on or after one year from January 1, 1993, shall be based on the following tables:

(1)For certificates of life insurance the Commissioner's 1941 Standard Ordinary Mortality Table, the Commissioner's 1941 Standard Industrial Mortality Table, the Commissioner's 1958 Standard Ordinary Mortality Table, the Commissioner's 1980 Standard Ordinary Mortality Table or any more recent table made applicable to life insurers;

(2)For annuity and pure endowment certificates, for total and permanent disability benefits, for accidental death benefits and for nonca

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

1. Standards of valuation for certificates issued prior to one year after January 1, 1993, shall be those provided by the laws applicable immediately prior to January 1, 1993.

2. The minimum standards of valuation for certificates issued on or after one year from January 1, 1993, shall be based on the following tables:

(1) For certificates of life insurance the Commissioner's 1941 Standard Ordinary Mortality Table, the Commissioner's 1941 Standard Industrial Mortality Table, the Commissioner's 1958 Standard Ordinary Mortality Table, the Commissioner's 1980 Standard Ordinary Mortality Table or any more recent table made applicable to life insurers;

(2) For annuity and pure endowment certificates, for total and permanent disability benefits, for accidental death benefits and for noncancelable accident and health benefits such tables as are authorized for use by life insurers in this state. All of the above shall be under valuation methods and standards, including interest assumptions, in accordance with the laws of this state applicable to life insurers issuing policies containing like benefits.

3. The director may, in his discretion, accept other standards for valuation if the director finds that the reserves produced thereby will not be less in the aggregate than reserves computed in accordance with the minimum valuation standard herein prescribed. The director may, in his discretion, vary the standards of mortality applicable to all benefit contracts on substandard lives or other extra hazardous lives by any society authorized to do business in this state.

4. Any society, with the consent of the insurance regulatory official of the state of domicile of the society and under such conditions, if any, which the director may impose, may establish and maintain reserves on its certificates in excess of the reserves required thereunder, but the contractual rights of any benefit member shall not be affected thereby.