2012 Rhode Island General Laws
Title 27 - Insurance
Chapter 27-4.5 - The Standard Valuation Law
Chapter 27-4.5-4 - Computation of minimum standard.

§ 27-4.5-4 Computation of minimum standard. – (a) Except as provided in this section, § 27-4.5-4.1 and § 27-4.5-10, the valuation of all policies and contracts described in § 27-4.5-2 shall be consistent with the provisions of § 27-4-17.

(b) The valuation of all policies and contracts issued on or after January 1, 2000 shall be subject to §§ 27-4.5-4.1 and 27-4.5-10 and the following tables:

(1) For individual annuity and pure endowment contracts, excluding any disability and accidental death benefits in those contracts, the Annuity 2000 Mortality Table or any individual annuity mortality table adopted after 2000 by the National Association of Insurance Commissioners, that is approved by regulation promulgated by the insurance commissioner for use in determining the minimum standard of valuation for those contracts;

(2) For all annuities and pure endowments purchased under group annuity and pure endowment contracts, excluding any disability and accidental death benefits purchased under those contracts, the 1994 Group Annuity Reserving Table, or any group annuity mortality table adopted after 2000 by the National Association of Insurance Commissioners that is approved by regulation promulgated by the insurance commissioner for use in determining the minimum standard of valuation for annuities and pure endowments, or any modification of these tables approved by the insurance commissioner; and

(c) For group life insurance, life insurance issued on the substandard basis and other special benefits and tables approved by the insurance commissioner.

History of Section.
(P.L. 1993, ch. 180, § 1; P.L. 1999, ch. 137, § 1.)