SECTION 4.2831. Purpose and Applicability

(a) The purpose of this subchapter is to establish the minimum mortality standards for reserves and nonforfeiture values for preneed life insurance policies or certificates, and to recognize, permit, and prescribe the use of the Ultimate 1980 CSO in determining the minimum standard of valuation of reserves and the minimum standard nonforfeiture values for preneed life insurance policies or certificates in accordance with Insurance Code §425.058(c), concerning Computation of Minimum Standard: General Rule, and §1105.055, concerning Use of Mortality Tables and Interest Rates with Nonforfeiture Net Level Premium Method, and §4.2825(a) of this title (relating to General Calculation Requirements for Basic Reserves and Premium Deficiency Reserves).

(b) This subchapter applies to all preneed life insurance policies and certificates issued on or after January 1, 2009.

Source Note: The provisions of this §4.2831 adopted to be effective December 29, 2008, 33 TexReg 10441; transferred effective September 1, 2023, as published in the July 28, 2023, issue of the Texas Register, 48 TexReg 4127; amended to be effective January 24, 2024, 49 TexReg 250