3 AAC 21 — Insurer - Financial (Article 1 to 10)

(a) For a policy with guaranteed non-level gross premiums or guaranteed non-level benefits, other than a universal life policy, and with an unusual pattern of guaranteed cash surrender values,(1) the reserves held before the first unusual guaranteed cash surrender value may not b…

(a) Basic reserves for a secondary guarantee in a universal life insurance policy with a secondary guarantee must equal the segmented reserves for the secondary guarantee period in the policy and, in calculating the segments and the segmented reserves, (1) the segments are determ…

(a) For purposes of 3 AAC 21.900 - 3 AAC 21.949, the contract segmentation method (1) is the method in which the amount of time from issuance of a policy to the mandatory expiration of a policy is divided into successive segments, with the length of each segment determined under …

(a) Segmented reserves are equal to the present value of all future guaranteed benefits minus the present value of all future net premiums to the mandatory expiration date of a policy subject to the following: (1) the reserves must be calculated using segments produced by the con…

In 3 AAC 21.900 - 3 AAC 21.949, (1) "basic reserves" means reserves calculated in accordance with AS 21.18.110(b)(2); (2) "deficiency reserves" means the larger of the following amounts:(A) zero; (B) minimum reserves calculated in accordance with AS 21.18.110(b)(4), minus basic r…