Rhode Island § 27-4.5-9 § 27-4.5-9. Reserve calculation — Indeterminate premium plans.

Rhode Island Statutes

§ 27-4.5-9 — § 27-4.5-9. Reserve calculation — Indeterminate premium plans.

Rhode Island § 27-4.5-9

Title 27Insurance

Ch. 27-4.5The Standard Valuation Law

This text of Rhode Island § 27-4.5-9 (§ 27-4.5-9. Reserve calculation — Indeterminate premium plans.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 27-4.5-9 (2026).

Text

§ 27-4.5-9. Reserve calculation — Indeterminate premium plans.
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 the then
            estimates of future experience, or in the case of any plan of life insurance or annuity
            that is of such a nature that the minimum reserves cannot be determined by the methods
            described in §§ 27-4.5-5, 27-4.5-5.1, and 27-4.5-8, 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
         

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§ 27-4.5-9. Reserve calculation — Indeterminate premium plans.

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 the then estimates of future experience, or in the case of any plan of life insurance or annuity that is of such a nature that the minimum reserves cannot be determined by the methods described in §§ 27-4.5-5, 27-4.5-5.1, and 27-4.5-8, 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 chapter, as determined by regulations promulgated by the commissioner of insurance.

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.