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COMMONWEALTH OF PENNSYLVANIA

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PA Bulletin, Doc. No. 00-11

PROPOSED RULEMAKING

INSURANCE DEPARTMENT

[31 PA. CODE CH. 84c]

Valuation of Life Insurance Policies

[30 Pa.B. 312]

[CORRECTION]

      An error occurred in a proposal to add 31 Pa. Code § 84c.4(b)(1)(i) as it appeared at 30 Pa.B. 23, 25 (January 1, 2000). The correct version appears in Annex A, with ellipses referring to the existing text of the proposal.

Annex A

TITLE 31.  INSURANCE

PART IV.  LIFE INSURANCE

CHAPTER 84C.  VALUATION OF
LIFE INSURANCE POLICIES

§ 84c.4.  Segmented and unitary reserve methods.

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      (b)  Contract segmentation method. The contract segmentation method is the method of dividing the period from issue to mandatory expiration of a policy into successive segments. The segments shall be calculated as follows:

      (1)  The length of a particular contract segment shall be set equal to the minimum of the value t for which Gt is greater than Rt (if Gt never exceeds Rt the segment length is deemed to be the number of years from the beginning of the segment to the mandatory expiration date of the policy), where Gt and Rt are as follows:

      (i)  Rt may be increased or decreased by 1% in any policy year, at the company's option, but Rt may not be less than 1.

*      *      *      *      *

[Pa.B. Doc. No. 00-11. Filed for public inspection December 30, 1999, 9:00 a.m.]


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