R590-251-2. Purpose and Scope

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(1) The purposes of this rule for preneed life insurance products are to:

(a) establish minimum mortality standards for reserves and non-forfeiture values; and

(b) require the use of the 1980 Commissioners Standard Ordinary (CSO) Life Valuation Table for use in determining:

(i) reserve liabilities; and

(ii) nonforfeiture values.

(2) This rule applies to preneed insurance contracts, as defined in Section R590-251-3, and to similar policies and certificates as determined by the commissioner.

                    
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