Figure: 28 TAC §3.5206

Credit Life Insurance
Presumptive Premium Rates

Exhibit 21

Class E Alone

Plan

Plan Description

 

Rate

 

1

Single Premium, Reducing Coverage, Single Life

*

$0.245

per year per $100 initial insured indebtedness

2

Single Premium, Level Coverage, Single Life

*

$0.470

per year per $100 insured indebtedness

3

Outstanding Balance, Revolving Loan, Single Life

 

$0.392

per month per $1000 outstanding insured indebtedness

4

Outstanding Balance, Other, Single Life

 

$0.392

per month per $1000 outstanding insured indebtedness

5

Single Premium, Reducing Coverage, Joint Life

*

$0.367

per year per $100 initial insured indebtedness

6

Single Premium, Level Coverage, Joint Life

*

$0.705

per year per $100 insured indebtedness

7

Outstanding Balance, Revolving Loan, Joint Life

 

$0.587

per month per $1000 outstanding insured indebtedness

8

Outstanding Balance, Other, Joint Life

 

$0.587

per month per $1000 outstanding insured indebtedness

 

All Classes Except Class E

Plan

Plan Description

 

Rate

1

Single Premium, Reducing Coverage, Single Life

*

$0.322

per year per $100 initial insured indebtedness

2

Single Premium, Level Coverage, Single Life

*

$0.617

per year per $100 insured indebtedness

3

Outstanding Balance, Revolving Loan, Single Life

 

$0.514

per month per $1000 outstanding insured indebtedness

4

Outstanding Balance, Other, Single Life

 

$0.514

per month per $1000 outstanding insured indebtedness

5

Single Premium, Reducing Coverage, Joint Life

*

$0.482

per year per $100 initial insured indebtedness

6

Single Premium, Level Coverage, Joint Life

*

$0.926

per year per $100 insured indebtedness

7

Outstanding Balance, Revolving Loan, Joint Life

 

$0.772

per month per $1000 outstanding insured indebtedness

8

Outstanding Balance, Other, Joint Life

 

$0.772

per month per $1000 outstanding insured indebtedness

* Single premium rates for plans 1, 2, 5, and 6 must be multiplied by the discount factor which is restated as follows:

Discount Factor = (1/(1 + ((i X n)/24)))

Where n = term of insurance coverage in months and i = .035

Credit Disability Insurance
Presumptive Premium Rates

Exhibit 22-3

Class E Alone

Plan

Plan Description

Rate

10

Single Premium 14-day Retroactive

Multiply rate from Exhibit 22-4 times Discount Factor *

11

Single Premium 30-day Retroactive

Multiply rate from Exhibit 22-4 times Discount Factor *

12

Single Premium 14-day Non-Retroactive

Multiply rate from Exhibit 22-4 times Discount Factor *

13

Single Premium 30-day Non-Retroactive

Multiply rate from Exhibit 22-4 times Discount Factor *

14

Single Premium 90-day Non-Retroactive°

$0.12 per year per $100 initial indebtedness times Discount Factor *

16

Outstanding Balance Revolving 14-day Retroactive

$1.59 per month per $1000 of outstanding insured indebtedness

17

Outstanding Balance Revolving 30-day Retroactive

$1.18 per month per $1000 of outstanding insured indebtedness

18

Outstanding Balance Revolving 14-day Non-Retroactive

$1.39 per month per $1000 of outstanding insured indebtedness

19

Outstanding Balance Revolving 30-day Non-Retroactive

$1.04 per month per $1000 of outstanding insured indebtedness

22

Outstanding Balance Other 14-day Retroactive

Multiply applicable Exhibit 22-4 rate by Conversion Formula **

23

Outstanding Balance Other 30-day Retroactive

Multiply applicable Exhibit 22-4 rate by Conversion Formula **

24

Outstanding Balance Other 14-day Non-Retroactive

Multiply applicable Exhibit 22-4 rate by Conversion Formula **

25

Outstanding Balance Other 30-day Non-Retroactive

Multiply applicable Exhibit 22-4 rate by Conversion Formula **

26

Outstanding Balance Other 90-day Non-Retroactive

Multiply Plan 14 SP without discount by Conversion Formula**

* Single premium rates for plans 10 through 14 must be multiplied by the discount factor which is restated as follows:

Discount Factor = (1/(1 + ((i X n)/24)))

Where n = term of insurance coverage in months and i = .035

**Conversion formula is as follows: 20/(n + 1)

Where n = the term of the insurance coverage in months.

°Coverage cannot be less than 6 months

Credit Disability Insurance - Presumptive Premium Rates Per $100 of Initial Indebtedness

Exhibit 22-4

Class E Alone

Original Number of Equal Monthly Installments

Benefits Payable After

Original Number of Equal Monthly Installments

Benefits Payable After

14th Day of Disability

30th Day of Disability

14th Day of Disability

30th Day of Disability

Retro

Non-Retro

Retro

Non-Retro

Retro

Non-Retro

Retro

Non-Retro

 

 

 

 

 

61

3.00

2.77

2.20

1.94

 

 

 

 

 

62

3.01

2.79

2.22

1.96

3

0.71

0.55

 

 

63

3.03

2.81

2.23

1.98

4

0.95

0.72

 

 

64

3.05

2.83

2.24

1.99

5

1.18

0.90

 

 

65

3.06

2.83

2.26

2.00

6

1.35

1.08

0.98

0.61

66

3.08

2.85

2.28

2.02

7

1.43

1.22

1.07

0.70

67

3.09

2.87

2.29

2.04

8

1.51

1.29

1.15

0.77

68

3.11

2.88

2.31

2.05

9

1.57

1.35

1.23

0.84

69

3.12

2.90

2.33

2.07

10

1.64

1.41

1.30

0.90

70

3.14

2.92

2.34

2.08

11

1.69

1.47

1.34

0.97

71

3.16

2.93

2.35

2.10

12

1.73

1.51

1.39

1.01

72

3.17

2.94

2.37

2.11

13

1.78

1.56

1.41

1.06

73

3.18

2.96

2.39

2.13

14

1.82

1.61

1.45

1.11

74

3.20

2.98

2.41

2.15

15

1.87

1.65

1.48

1.15

75

3.22

3.00

2.41

2.16

16

1.91

1.69

1.50

1.19

76

3.24

3.00

2.43

2.17

17

1.95

1.73

1.53

1.23

77

3.25

3.02

2.45

2.19

18

1.99

1.76

1.56

1.28

78

3.26

3.04

2.47

2.21

19

2.02

1.81

1.57

1.31

79

3.28

3.06

2.48

2.23

20

2.06

1.83

1.60

1.34

80

3.30

3.07

2.49

2.24

21

2.09

1.87

1.63

1.37

81

3.31

3.09

2.51

2.25

22

2.12

1.90

1.64

1.39

82

3.33

3.10

2.52

2.27

23

2.16

1.93

1.66

1.40

83

3.34

3.12

2.54

2.29

24

2.18

1.96

1.68

1.42

84

3.35

3.13

2.56

2.30

25

2.22

1.99

1.69

1.44

85

3.37

3.15

2.58

2.32

26

2.24

2.02

1.73

1.47

86

3.39

3.17

2.58

2.33

27

2.27

2.05

1.74

1.48

87

3.41

3.17

2.60

2.34

28

2.29

2.07

1.75

1.50

88

3.42

3.19

2.62

2.36

29

2.33

2.10

1.77

1.51

89

3.43

3.21

2.64

2.38

30

2.34

2.13

1.79

1.53

90

3.45

3.23

2.65

2.40

31

2.38

2.16

1.81

1.55

91

3.47

3.24

2.66

2.41

32

2.41

2.17

1.82

1.56

92

3.48

3.26

2.68

2.42

33

2.42

2.20

1.83

1.57

93

3.50

3.27

2.70

2.44

34

2.45

2.23

1.86

1.60

94

3.51

3.29

2.71

2.46

35

2.47

2.25

1.87

1.62

95

3.53

3.30

2.73

2.47

36

2.49

2.28

1.89

1.64

96

3.54

3.32

2.75

2.49

37

2.52

2.30

1.90

1.64

97

3.56

3.34

2.76

2.50

38

2.54

2.33

1.91

1.65

98

3.58

3.35

2.77

2.52

39

2.57

2.34

1.93

1.67

99

3.59

3.36

2.79

2.53

40

2.58

2.36

1.93

1.68

100

3.60

3.38

2.81

2.55

41

2.61

2.39

1.95

1.69

101

3.62

3.40

2.83

2.57

42

2.64

2.41

1.97

1.71

102

3.64

3.42

2.83

2.58

43

2.65

2.43

1.99

1.73

103

3.66

3.43

2.85

2.59

44

2.67

2.45

1.99

1.74

104

3.67

3.44

2.87

2.61

45

2.70

2.47

2.01

1.75

105

3.68

3.46

2.88

2.63

46

2.72

2.49

2.02

1.76

106

3.70

3.48

2.90

2.65

47

2.74

2.51

2.04

1.78

107

3.71

3.49

2.92

2.66

48

2.76

2.53

2.05

1.79

108

3.73

3.51

2.93

2.67

49

2.77

2.56

2.06

1.81

109

3.75

3.52

2.94

2.69

50

2.80

2.58

2.07

1.82

110

3.76

3.53

2.96

2.70

51

2.82

2.59

2.08

1.82

111

3.77

3.55

2.98

2.72

52

2.83

2.61

2.09

1.83

112

3.79

3.57

3.00

2.74

53

2.85

2.64

2.11

1.85

113

3.81

3.59

3.00

2.75

54

2.88

2.65

2.11

1.86

114

3.83

3.59

3.02

2.76

55

2.89

2.66

2.13

1.87

115

3.84

3.61

3.04

2.78

56

2.92

2.69

2.15

1.89

116

3.85

3.63

3.06

2.80

57

2.93

2.70

2.16

1.90

117

3.87

3.65

3.07

2.82

58

2.94

2.73

2.16

1.91

118

3.89

3.66

3.09

2.83

59

2.97

2.75

2.17

1.92

119

3.90

3.68

3.10

2.84

60

2.99

2.76

2.18

1.93

120

3.92

3.69

3.12

2.86

 

Credit Disability Insurance
Presumptive Premium Rates

Exhibit 22-5

All Classes Except Class E

Plan

Plan Description  

Rate

10

Single Premium 14-day Retroactive

Multiply rate from Exhibit 22-6 times Discount Factor *

11

Single Premium 30-day Retroactive

Multiply rate from Exhibit 22-6 times Discount Factor *

12

Single Premium 14-day Non-Retroactive

Multiply rate from Exhibit 22-6 times Discount Factor *

13

Single Premium 30-day Non-Retroactive

Multiply rate from Exhibit 22-6 times Discount Factor *

14

Single Premium 90-day Non-Retroactive°

$0.15 per year per $100 initial indebtedness times Discount Factor *

16

Outstanding Balance Revolving 14-day Retroactive

$1.78 per month per $1000 of outstanding insured indebtedness

17

Outstanding Balance Revolving 30-day Retroactive

$1.32 per month per $1000 of outstanding insured indebtedness

18

Outstanding Balance Revolving 14-day Non-Retroactive

$1.55 per month per $1000 of outstanding insured indebtedness

19

Outstanding Balance Revolving 30-day Non-Retroactive

$1.16 per month per $1000 of outstanding insured indebtedness

22

Outstanding Balance Other 14-day Retroactive

Multiply applicable Exhibit 22-6 rate by Conversion Formula **

23

Outstanding Balance Other 30-day Retroactive

Multiply applicable Exhibit 22-6 rate by Conversion Formula **

24

Outstanding Balance Other 14-day Non-Retroactive

Multiply applicable Exhibit 22-6 rate by Conversion Formula **

25

Outstanding Balance Other 30-day Non-Retroactive

Multiply applicable Exhibit 22-6 rate by Conversion Formula **

26

Outstanding Balance Other 90-day Non-Retroactive

Multiply Plan 14 SP without discount by Conversion Formula**

* Single premium rates for plans 10 through 14 must be multiplied by the discount factor which is restated as follows:

Discount Factor = (1/(1 + ((i X n)/24)))

Where n = term of insurance coverage in months and i = .035

**Conversion formula is as follows: 20/(n + 1)

Where n = the term of the insurance coverage in months.

°Coverage cannot be less than 6 months

Credit Disability Insurance - Presumptive Premium Rates Per $100 of Initial Indebtedness

Exhibit 22-6

All Classes Except Class E

Original Number of Equal Monthly Installments

Benefits Payable After

Original Number of Equal Monthly Installments

Benefits Payable After

14th Day of Disability

30th Day of Disability

14th Day of Disability

30th Day of Disability

Retro

Non-Retro

Retro

Non-Retro

Retro

Non-Retro

Retro

Non-Retro

 

 

 

 

 

61

3.97

3.68

2.92

2.57

 

 

 

 

 

62

4.00

3.70

2.94

2.60

3

0.94

0.72

 

 

63

4.02

3.72

2.95

2.62

4

1.26

0.96

 

 

64

4.04

3.75

2.98

2.64

5

1.57

1.20

 

 

65

4.05

3.76

3.00

2.66

6

1.79

1.43

1.30

0.81

66

4.08

3.78

3.02

2.68

7

1.90

1.61

1.42

0.92

67

4.10

3.81

3.04

2.70

8

2.00

1.71

1.53

1.02

68

4.13

3.82

3.06

2.72

9

2.09

1.79

1.62

1.11

69

4.14

3.84

3.08

2.74

10

2.17

1.87

1.72

1.20

70

4.16

3.87

3.11

2.76

11

2.24

1.94

1.78

1.28

71

4.19

3.89

3.12

2.79

12

2.30

2.00

1.84

1.34

72

4.21

3.90

3.14

2.80

13

2.36

2.07

1.87

1.40

73

4.22

3.92

3.17

2.82

14

2.42

2.13

1.92

1.47

74

4.24

3.95

3.19

2.85

15

2.48

2.19

1.96

1.53

75

4.27

3.97

3.20

2.87

16

2.54

2.24

1.99

1.58

76

4.29

3.98

3.22

2.88

17

2.58

2.30

2.03

1.64

77

4.30

4.01

3.25

2.90

18

2.64

2.34

2.06

1.70

78

4.33

4.03

3.27

2.93

19

2.68

2.39

2.09

1.73

79

4.35

4.05

3.28

2.95

20

2.73

2.43

2.12

1.78

80

4.37

4.07

3.31

2.96

21

2.77

2.48

2.16

1.81

81

4.39

4.09

3.33

2.99

22

2.81

2.51

2.17

1.84

82

4.41

4.11

3.34

3.01

23

2.86

2.56

2.21

1.86

83

4.43

4.14

3.37

3.04

24

2.89

2.60

2.23

1.89

84

4.45

4.15

3.39

3.05

25

2.94

2.64

2.24

1.91

85

4.47

4.17

3.41

3.07

26

2.96

2.68

2.29

1.94

86

4.49

4.20

3.43

3.09

27

3.01

2.72

2.31

1.97

87

4.52

4.21

3.45

3.11

28

3.04

2.75

2.32

1.99

88

4.53

4.23

3.47

3.13

29

3.08

2.79

2.35

2.00

89

4.55

4.26

3.50

3.15

30

3.11

2.82

2.37

2.03

90

4.58

4.28

3.51

3.18

31

3.15

2.86

2.39

2.05

91

4.60

4.29

3.53

3.19

32

3.19

2.88

2.41

2.07

92

4.61

4.32

3.56

3.21

33

3.21

2.92

2.43

2.09

93

4.64

4.34

3.58

3.24

34

3.25

2.95

2.47

2.12

94

4.66

4.36

3.59

3.26

35

3.27

2.99

2.48

2.15

95

4.68

4.37

3.62

3.27

36

3.31

3.02

2.50

2.17

96

4.70

4.40

3.64

3.30

37

3.34

3.05

2.51

2.17

97

4.72

4.42

3.66

3.32

38

3.37

3.08

2.54

2.19

98

4.74

4.45

3.68

3.34

39

3.40

3.11

2.56

2.22

99

4.77

4.46

3.70

3.36

40

3.43

3.13

2.56

2.23

100

4.78

4.48

3.72

3.38

41

3.46

3.17

2.58

2.24

101

4.80

4.51

3.75

3.40

42

3.50

3.19

2.61

2.26

102

4.83

4.53

3.76

3.43

43

3.51

3.22

2.63

2.29

103

4.85

4.54

3.78

3.44

44

3.54

3.25

2.64

2.31

104

4.86

4.56

3.81

3.46

45

3.58

3.27

2.67

2.32

105

4.88

4.59

3.82

3.49

46

3.60

3.31

2.68

2.34

106

4.91

4.61

3.84

3.51

47

3.63

3.33

2.70

2.36

107

4.92

4.62

3.87

3.52

48

3.66

3.36

2.72

2.37

108

4.94

4.65

3.89

3.54

49

3.68

3.39

2.73

2.39

109

4.97

4.67

3.90

3.57

50

3.71

3.41

2.74

2.41

110

4.99

4.68

3.92

3.58

51

3.73

3.44

2.76

2.42

111

5.00

4.71

3.95

3.60

52

3.76

3.46

2.77

2.43

112

5.03

4.73

3.97

3.63

53

3.78

3.50

2.80

2.45

113

5.05

4.75

3.98

3.65

54

3.82

3.51

2.80

2.47

114

5.07

4.77

4.01

3.66

55

3.83

3.53

2.82

2.48

115

5.09

4.79

4.03

3.69

56

3.87

3.57

2.85

2.50

116

5.11

4.81

4.05

3.71

57

3.89

3.58

2.86

2.51

117

5.13

4.84

4.07

3.73

58

3.90

3.62

2.87

2.54

118

5.16

4.85

4.09

3.75

59

3.94

3.64

2.88

2.55

119

5.17

4.87

4.11

3.77

60

3.96

3.66

2.89

2.56

120

5.19

4.90

4.14

3.79