Minnesota Administrative Code

2751.1200 AUTHORIZATION OF AGENTS. No person, corporation, partnership, or other legal entity may sell or offer for sale in this state any modified guaranteed annuity contract unless licensed to sell variable annuities under the insurance laws of this state. Statutory Authority: …

2751.1300 RESTRICTION ON ISSUANCE. Notwithstanding parts 2751.0100 to part 2751.1200, no modified guaranteed annuity shall be issued to any Minnesota resident. The commissioner may by order authorize the sale of modified guaranteed annuities to Minnesota residents if the commissi…

2752.0010 DEFINITIONS. Subpart 1. Terms. For purposes of this chapter, the terms in this part have the meanings given them. Subp. 2. 1983 Table "a." "1983 Table 'a'" means the mortality table developed by the Society of Actuaries Committee to Recommend a New Mortality Basis for I…

2752.0011 2012 INDIVIDUAL ANNUITY MORTALITY PERIOD LIFE; FEMALE. Table 1 2012 IAM Period Table Female, Age Nearest Birthday AGE 1000·qx2012 AGE 1000·qx2012 AGE 1000·qx2012 AGE 1000·qx2012 0 1.621 30 0.300 60 3.460 90 88.377 1 0.405 31 0.321 61 3.916 91 97.491 2 0.259 32 0.338 62 …

2752.0012 2012 INDIVIDUAL ANNUITY MORTALITY PERIOD LIFE; MALE. Table 2 2012 IAM Period Table Male, Age Nearest Birthday AGE 1000·qx2012 AGE 1000·qx2012 AGE 1000·qx2012 AGE 1000·qx2012 0 1.605 30 0.741 60 5.096 90 109.993 1 0.401 31 0.751 61 5.614 91 123.119 2 0.275 32 0.754 62 6.…

2752.0013 PROJECTION SCALE G2; FEMALE. Table 3 Projection Scale G2 Female, Age Nearest Birthday AGE G2x AGE G2x AGE G2x AGE G2x 0 0.010 30 0.010 60 0.013 90 0.006 1 0.010 31 0.010 61 0.013 91 0.006 2 0.010 32 0.010 62 0.013 92 0.005 3 0.010 33 0.010 63 0.013 93 0.005 4 0.010 34 0…

2752.0014 PROJECTION SCALE G2; MALE. Table 4 Projection Scale G2 Male, Age Nearest Birthday AGE G2x AGE G2x AGE G2x AGE G2x 0 0.010 30 0.010 60 0.015 90 0.007 1 0.010 31 0.010 61 0.015 91 0.007 2 0.010 32 0.010 62 0.015 92 0.006 3 0.010 33 0.010 63 0.015 93 0.005 4 0.010 34 0.010…

2752.0020 INDIVIDUAL ANNUITY OR PURE ENDOWMENT CONTRACTS. Subpart 1. Approved table for annuity or pure endowment contract issued on or after August 1, 1978. Except as provided in subparts 2, 3, and 4, the 1983 Table "a" and the Annuity 2000 Mortality Table are recognized and app…

2752.0025 APPLICATION OF THE 2012 IAR TABLE. In using the 2012 IAR Table, the mortality rate for a person age x in year (2012+n) is calculated as follows: qx2012+n = qx2012 (1 - G2x)n where the qx2012 and G2x are as specified in the 2012 IAM Period Table and Projection Scale G2, …

2752.0030 GROUP ANNUITY OR PURE ENDOWMENT CONTRACTS. Subpart 1. Approved table for annuity or pure endowment purchased on or after August 1, 1978, under a group annuity or pure endowment contract. Except as provided in subpart 2, the 1983 GAM Table, the 1983 Table "a," and the 19…

2752.0040 APPLICATION OF THE 1994 GAR TABLE. In using the 1994 GAR Table, the mortality rate for a person age x in year (1994 + n) is calculated as follows: qx1994+n = qx1994(1-AAx)n where the qx1994s and AAxs are as specified in the 1994 GAR Table. Statutory Authority: MS s 45.0…

2753.0100 PURPOSE. A. The purpose of this chapter is to set forth standards to protect active duty service members of the United States armed forces from dishonest and predatory insurance sales practices by declaring certain identified practices to be false, misleading, deceptive…

2753.0200 SCOPE. This chapter applies only to the solicitation or sale of any life insurance or annuity product by an insurer or insurance producer to an active duty service member of the United States armed forces. Statutory Authority: MS s 45.023; 79A.19 History: 34 SR 789 Publ…

2753.0300 EXEMPTIONS. Subpart 1. Generally. This chapter does not apply to solicitations or sales involving: A. credit insurance; B. group life insurance or group annuities where there is no in-person, face-to-face solicitation of individuals by an insurance producer or where the…

2753.0400 DEFINITIONS. Subpart 1. Active duty. "Active duty" means full-time duty in the active military service of the United States and includes members of the reserve component (National Guard and reserve) while serving under published orders for active duty or full-time train…

2753.0500 PRACTICES DECLARED FALSE, MISLEADING, DECEPTIVE, OR UNFAIR ON A MILITARY INSTALLATION. Subpart 1. Face-to-face solicitations. The following acts or practices when committed on a military installation by an insurer or insurance producer with respect to the in-person, fac…

2753.0600 PRACTICES DECLARED FALSE, MISLEADING, DECEPTIVE, OR UNFAIR REGARDLESS OF LOCATION. Subpart 1. Corrupt practices, improper influences, or inducements. The following acts or practices by an insurer or insurance producer constitute corrupt practices, improper influences, o…

2755.0100 DEFINITION. For purposes of these rules, "carrier" means any insurance company as defined in Minnesota Statutes, section 60A.02, subdivision 4; any service plan corporation as defined in Minnesota Statutes, section 62C.02, subdivision 6; and any health maintenance organ…

2755.0200 AUTHORITY AND SCOPE. Parts 2755.0100 to 2755.0500 apply to all policies and subscriber contracts issued or provided by an insurance company, nonprofit service plan corporation, or health maintenance organization on a group basis and are promulgated pursuant to the autho…

2755.0300 PURPOSE. The purpose of parts 2755.0100 to 2755.0500 is to indicate which carrier is responsible for coverage in those cases where one carrier's plan of benefits replaces a prior plan which offered similar benefits. Statutory Authority: MS s 60A.082 Published Electronic…

2755.0400 LIABILITY OF PRIOR CARRIER. The prior carrier remains liable to the extent of its accrued liability and any contractual liability for extension of benefits at the time of replacement. "Accrued liability" includes, but is not limited to, responsibility for covered inpati…

2755.0500 LIABILITY OF SUCCEEDING CARRIER. Subpart 1. Coverage under succeeding carrier's plan. Each individual who is eligible under the succeeding carrier's plan, with respect to provisions regarding class eligibility, activity at work, and nonconfinement, shall be covered by t…

2760.0010 PURPOSE. The purpose of this chapter is to protect the interests of debtors and the public in this state by providing a system of rate, policy form, and operating standards for the transaction of credit life and credit accident and health insurance. This chapter interpr…

2760.0020 DEFINITIONS. Subpart 1. Scope. The terms used in this chapter have the meanings given them in this part. Subp. 2. Account. "Account" means the aggregate coverage for a single plan of insurance written under one agreement through one or more creditors by the insurer, whe…

2760.0030 RIGHTS AND TREATMENT OF DEBTORS. Subpart 1. Multiple plans of insurance. If a creditor makes available to the debtors more than one plan of credit life insurance or credit accident and health insurance, every debtor must be informed of each plan for which the debtor is …

2760.0040 DETERMINATION OF REASONABLENESS OF BENEFITS IN RELATION TO PREMIUM. Premium rates charged for credit insurance shall not be excessive in relation to the benefits. The requirement is satisfied if the premium rate charged develops or is reasonably expected to develop a lo…

2760.0050 CREDIT LIFE INSURANCE RATES. Subpart 1. Initial prima facie rates. Subject to the conditions and requirements in subpart 2 and part 2760.0090, the initial prima facie rates in this subpart meet the requirements of part 2760.0040 and are the maximum rates to be used with…

2760.0060 CREDIT ACCIDENT AND HEALTH INSURANCE RATES. Subpart 1. Initial prima facie rates. Subject to the conditions and requirements in subpart 2 and part 2760.0090, the initial prima facie rates in this subpart meet the requirements of part 2760.0040 and are the maximum rates …

2760.0070 REFUNDS OF UNEARNED PREMIUM. Subpart 1. Charges on single premium consumer credit insurance contract. In the event of termination of a single premium contract, no charge for consumer credit insurance may be made for the first 15 days of a month and a full month may be c…

2760.0080 EXPERIENCE REPORTS AND ADJUSTMENT OF PRIMA FACIE RATES. Subpart 1. Experience report filing. Each insurer doing insurance business in this state shall annually file in electronic form with the National Association of Insurance Commissioners a report of credit insurance …

2760.0090 PREMIUM RATE DEVIATION. Subpart 1. Use of deviated rates. A. If the loss ratio of the insurer is 55 percent or more based on the most recent one to three calendar years' experience using the prima facie rates currently in use for any plan of coverage, the insurer may fi…

2761.0100 PURPOSE AND AUTHORITY. The purpose of this chapter is to implement the authority to sell and effect the regulation of credit involuntary unemployment insurance pursuant to Minnesota Statutes, section 62B.12, and Minnesota Statutes, chapter 62B, as required by Laws 1993,…

2761.0200 DEFINITIONS. Subpart 1. Scope. The terms used in this chapter have the meanings given them in this part. Subp. 2. Authorized insurer. "Authorized insurer" means an insurer authorized to offer coverages specified by Minnesota Statutes, section 60A.06, subdivision 1, clau…

2761.0300 POLICY FORMS AND RELATED MATERIALS. Subpart 1. Filing requirements. All policy forms, certificates of insurance, notices of proposed insurance, applications for insurance, endorsements, and riders to be delivered or issued for delivery in this state, and the schedules o…

2761.0400 STANDARD BENEFIT PLANS. Subpart 1. General standard. Benefits provided under credit involuntary unemployment insurance policies must be reasonable in relation to premiums charged. Premiums will be considered reasonable if they conform to the prima facie rates shown in p…

2761.0500 REFUNDS OF PREMIUM. A. The refund of an unearned amount paid by or charged to the debtor for credit involuntary unemployment insurance on which the charges to the debtor are payable by other than a single advance premium shall not be less than the pro rata gross unearne…

2761.0600 PROHIBITED PRACTICES. Subpart 1. Generally. No insurer, or a parent, subsidiary, officer, agent, solicitor, or representative of the insurer, shall engage in any of the following practices: A. deposit of premiums to the account of the insurer in the financial institutio…

2761.0700 PREMIUM RATES. No policies of credit involuntary unemployment insurance issued after January 9, 1996, shall be at a rate in excess of that set forth in this part except that benefit plans different from these basic benefit plans are subject to prior approval pursuant to…

2761.0800 STANDARD PREMIUM RATE CHANGES; UNEMPLOYMENT RATE VARIABLE. Premium rates in part 2761.0700, Schedules A and B, may be adjusted from time to time based on the application of the factors to be applied from variations in the state unemployment rate. Prima facie rates in pa…

2761.0900 COORDINATION AND PUBLICATION OF CURRENT STANDARD BENEFIT PLAN PRIMA FACIE RATES. The rates in part 2761.0700, Schedules A and B, will be determined from time to time by the commissioner under the conditions in and published before the end of the 90-day period in part 27…

2761.1000 RATE MAKING METHODOLOGY AND DETERMINATION OF PREMIUM RATES. Standard rates in part 2761.0700, Schedules A and B, are given in or derived from the information provided in the statement of need and reasonableness available in connection with this chapter. Statutory Author…

2761.1100 USE OF BENEFIT PLANS DIFFERENT FROM STANDARD BENEFIT PLANS. An insurer may file for approval of and use benefit plans that differ from the basic benefit plans in part 2761.0700. Rates for these plans that differ must be actuarially consistent with the prima facie rates …

2761.1200 APPLICATION. Certificates, notices of proposed insurance, and premium rates in connection with existing group policies shall conform to the requirements of this chapter no later than the anniversary date of the group policy next following January 9, 1996. Statutory Auth…

2765.0100 DEFINITIONS. Subpart 1. Scope. For the purposes of this chapter, the terms defined in this part have the meanings given them. Subp. 2. Board. "Board" means a plan's board of trustees. Subp. 3. Bylaws. "Bylaws" means the statements adopted by a plan that prescribe its pu…

2765.0200 PURPOSE. This chapter governs the formation, operation, and dissolution of multiple employer plans for joint self-insurance of employee health, dental, or short-term disability benefits. They are intended to ensure that the financial integrity of these plans is maintain…

2765.0300 SCOPE. The following are subject to the requirements of this chapter: A. employers authorized to transact business in Minnesota that seek to jointly self-insure employee health, dental, or short-term disability benefits; B. service companies that provide services to a p…

2765.0400 BYLAWS. Subpart 1. Content. Bylaws may contain any provisions that do not conflict with this chapter. Bylaws must, at a minimum, contain the following provisions: A. the plan's name, purpose, and initial date of existence; B. definitions of key terms; C. a statement of …