§ 26-16-205 — Section applicability; adjusted premiums

(a) This section does not apply to policies issued on or
after the operative date of W.S. 26-16-209.
(b) Except as provided in W.S. 26-16-207, the adjusted
premiums for any policy shall be calculated on an annual basis
and shall be such uniform percentage of the premiums specified
in the policy for each policy year, excluding any extra premiums
charged because of impairment or special hazards, that the
present value, at the date of issue of the policy, of all the
adjusted premiums shall be equal to the sum of:
(i) The then present value of the future guaranteed
benefits provided by the policy;
(ii) Two percent (2%) of the amount of insurance, if
the insurance is uniform in amount, or of the equivalent uniform
amount, as otherwise defined in this article, if the amount of
insurance varies with duration of the policy;
(iii) Forty percent (40%) of the adjusted premium for
the first policy year;
(iv) Twenty-five percent (25%) of either the adjusted
premium for the first policy year or the adjusted premium for a
whole life policy of the same uniform or equivalent uniform
amount with uniform premiums for the whole of life issued at the
same age for the same amount of insurance, whichever is less,
except that in applying the percentages specified in paragraph
(iii) of this subsection and this paragraph, no adjusted premium
is deemed to exceed four percent (4%) of the amount of insurance
or uniform amount equivalent thereto.