There Is a Newer Version of the Florida Statutes
  1. 2025 Florida Stat.
  2. 2024 Florida Stat.
  3. 2023 Florida Stat.
  4. 2002 Florida Stat. (here)
  5. View All Versions
View Our Newest Version Here

2002 Florida Code
TITLE XXXVII INSURANCE
Chapter 625 ACCOUNTING, INVESTMENTS, AND DEPOSITS BY INSURERS  
PART I ASSETS AND LIABILITIES (ss. 625.01115-625.181)
625.131   Credit life and disability policies, special reserve bases.

625.131  Credit life and disability policies, special reserve bases.--

(1)  The minimum reserve for single-premium credit disability insurance, monthly premium credit life insurance and monthly premium credit disability insurance shall be the unearned gross premium.

(2)  As to single-premium credit life insurance policies, the insurer shall establish and maintain reserves which are not less than the value, at the valuation date, of the risk for the unexpired portion of the period for which the premium has been paid as computed on the basis of the commissioners' 1980 Standard Ordinary Mortality Table and 3.5 percent interest. At the discretion of the department, the insurer may make a reasonable assumption as to the ages at which net premiums are to be determined. In lieu of the foregoing basis, reserves based upon unearned gross premiums may be used at the option of the insurer.

History.--s. 121, ch. 59-205; ss. 13, 35, ch. 69-106; s. 1, ch. 75-58; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 2, 3, ch. 81-318; ss. 94, 98, 809(1st), ch. 82-243; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429.

Disclaimer: These codes may not be the most recent version. Florida may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.