Department of Insurance

This regulation shall supersede and fully replace any prior regulation concerning variable life insurance. This regulation is particularly intended to replace any provisions of Regulation No. 78-2 (Variable Contracts), Articles I through IX as they may pertain to variable life in…

This regulation shall become effective on and after July 1, 1984. PROMULGATED AND ADOPTED this the 30th day of January, 1984. Notes 19 Miss. Code. R. 2-5.15 Miss. Code Ann. § 25-43-3.113 (Rev. 2010)

I, George Dale, duly elected Commissioner of Insurance of the State of Mississippi, pursuant to the authority granted in me in Section 83-7-25, Mississippi Code of 1972, as Amended, and in accordance with Sections 25-43-1 through 25-43-19, Mississippi Code of 1972, known as the M…

The purpose of this Regulation is to permit individual life insurance policies to provide the same cash surrender values and paid-up nonforfeiture benefits to both men and women. No change in minimum valuation standards is implied by this rule. Notes 19 Miss. Code. R. 2-6.02 Miss…

A. As used in this Regulation, "1980 CSO Table, with or without Ten Year Select Mortality Factors" means that mortality table, consisting of separate rates of mortality for male and female lives, developed by the Society of Actuaries Committee to Recommend New Mortality Tables fo…

A. For any policy of insurance on the life of either a male of female insured delivered or issued for delivery in this state after the operative date of Section 83-7-25(5-c)(K) for that policy form.1. a mortality table which is a blend of the 1980 CSO Table (M) and the 1980 CSO T…

In determining minimum cash surrender values and amounts of paid-up nonforfeiture benefits for any policy of insurance on the life of either a male or female insured on a form of insurance with separate rates for smokers and nonsmokers delivered or issued for delivery in this sta…

It shall not be a violation of Section 83-5-35 for an insurer to issue the same kind of policy of life insurance on both a sex-distinct and sex-neutral basis. Notes 19 Miss. Code. R. 2-6.06 Miss. Code Ann. §§ 83-7-25; 83-5-1(Rev. 2011)

If any provisionsof this Regulation or the application thereof to any person or circumstance is for any reason held to be invalid, the remainder of the regulation and the application of such provision to other persons or circumstances shall not be affected thereby. Notes 19 Miss.…

The effective date of this regulation shall be thirty (30) days from and after its adoption and filing with the Secretary of State of the State of Mississippi. Notes 19 Miss. Code. R. 2-6.08 Miss. Code Ann. § 25-43-3.113 (Rev. 2010)

I, George Dale, duly elected Commissioner of Insurance of the State of Mississippi, pursuant to the authority granted in me in Section 83-7-25, Mississippi Code of 1972, as Amended, and in accordance with Sections 25-43-1 through 25-43-19, Mississippi Code of 1972, known as the M…

The purpose of the Regulation is to permit the use of mortality tables that reflect differences in mortality between smokers and nonsmokers in determining minimum reserve liabilities and minimum cash surrender values and amounts of paid-up nonforfeiture benefits for plans of insu…

A. As used in this Regulation, "1980 CSO Table, with or without Ten-Year Select Mortality Factor" means that mortality table, consisting of separate rates of mortality for male and female lives, developed by the Society of Actuaries Committee to Recommend New Mortality Tables for…

A. For any policy of insurance delivered or issued for delivery in this state after the operative date of Section 83-7-25(5-c)(K) for that policy form and before January 1, 1989, at the option of the company and subject to the conditions stated in Section 5 of this Regulation, 1.…

For each plan of insurance with separate rates for smokers and nonsmokers an insurer may A. use composite mortality tables to determine minimum reserve liabilities and minimum cash surrender values and amounts of paid-up nonforfeiture benefits. B. use smoker and nonsmoker mortali…

If any provision of this Regulation or the application thereof to any person or circumstance is for any reason held to be invalid, the remainder of the regulation and the application of such provision to other persons or circumstances shall not be affected thereby. Notes 19 Miss.…

The effective date of this Regulation shall be thirty (30) days from and after its adoption and filing with the Secretary of State of the State of Mississippi. PROMULGATED AND ADOPTED this the 13th day of August, 1984. Notes 19 Miss. Code. R. 2-7.07 Miss. Code Ann. § 25-43-3.113 …

Mississippi Model Regulation Permitting Smokers/Nonsmokers Mortality Tables for Use in Determining Minimum Reserve Liabilities and Nonforfeiture Benefits: 1958 CSO Male and Smoker and Non-Smoker Mortality Rates AGE Non-Smoker Smoker 15 1.46 1.74 16 1.53 1.85 17 1.60 1.96 18 1.64 …

Mississippi Model Regulation Permitting Smoker/Nonsmokers Mortality Tables For Use in Determining Minimum Reserve Liabilities and Nonforfeiture Benefits: 1958 CET Male and Smoker and Non-Smoker Mortality Rates AGE Non-Smoker Smoker 15 2.21 2.49 16 2.28 2.60 17 2.35 2.71 18 2.39 2…

Mississippi Model Regulation Permitting Smokers/Nonsmokers Mortality Tables For Use In Determining Minimum Reserve Liabilities and Nonforfeiture Benefits: 1958 CSO Male ALB Smoker and Non-Smoker Mortality Rates AGE Non-Smoker Smoker 15 1.49 1.79 16 1.56 1.90 17 1.62 1.99 18 1.64 …

Mississippi Model Regulation Permitting Smokers/Nonsmokers Mortality Tables For Use In Determining Minimum Reserve Liabilities and Nonforfeiture Benefits: 1958 CET Male ALB smoker and Non-Smoker Mortality Rates AGE Non-Smoker Smoker 15 2.24 2.54 16 2.31 2.65 17 2.37 2.74 18 2.39 …

Mississippi Model Regulation Permitting Smokers/Nonsmokers Mortality Tables For Use In Determining Minimum Reserve Liabilities and Nonforfeiture Benefits: 1980 CSO Female Smoker and Non-Smoker Mortality Rates: Age Nearest Birthday AGE Non-Smoker Smoker 15 0.84 0.94 16 0.88 0.99 1…

Mississippi Model Regulation Permitting Smokers/Nonsmokers Mortality Tables For Use In Determining Minimum Reserve Liabilities and Nonforfeiture Benefits: 1980 CSO Male Smoker and Non-Smoker Mortality Rates: Age Nearest Birthday AGE Non-Smoker Smoker 15 1.29 1.65 16 1.43 1.87 17 …

Mississippi Model Regulation Permitting Smokers/Nonsmokers Mortality Tables For Use In Determining Minimum Reserve Liabilities and Nonforfeiture Benefits: 1980 CET Female Smoker and Non-Smoker Mortality Rates: Age Nearest Birthday AGE Non-Smoker Smoker 15 1.59 1.69 16 1.63 1.74 1…

Mississippi Model Regulation Permitting Smokers/Nonsmokers Mortality Tables For Use In Determining Minimum Reserve Liabilities and Nonforfeiture Benefits: 1980 CET Male Smoker and Non-Smoker Mortality Rates: Age Nearest Birthday AGE Non-Smoker Smoker 15 2.04 2.40 16 2.18 2.62 17 …

Mississippi Model Regulation Permitting Smokers/Nonsmokers Mortality Tables For Use In Determining Minimum Reserve Liabilities and Nonforfeiture Benefits: 1980 CSO Female Smoker and Non-Smoker Mortality Rates: Age Last Birthday AGE Non-Smoker Smoker 15 0.86 0.96 16 0.90 1.01 17 0…

Mississippi Model Regulation Permitting Smokers/Nonsmokers Mortality Tables For Use In Determining Minimum Reserve Liabilities and Nonforfeiture Benefits: 1980 CSO Male Smoker and Non-Smoker Mortality Rates: Age Last Birthday AGE Non-Smoker Smoker 15 1.36 1.76 16 1.48 1.96 17 1.5…

Mississippi Model Regulation Permitting Smokers/Nonsmokers Mortality Tables For Use In Determining Minimum Reserve Liabilities and Nonforfeiture Benefits: 1980 CET Female Smoker and Non-Smoker Mortality Rates: Age Last Birthday AGE Non-Smoker Smoker 15 1.61 1.71 16 1.65 1.76 17 1…

Mississippi Model Regulation Permitting Smokers/Nonsmokers Mortality Tables For Use In Determining Minimum Reserve Liabilities and Nonforfeiture Benefits: 1980 CET Male Smoker and Non-Smoker Mortality Rates: Age Last Birthday AGE Non-Smoker Smoker 15 2.11 2.51 16 2.23 2.71 17 2.3…

I, George Dale, duly elected Commissioner of Insurance of the State of Mississippi, pursuant to the authority granted in me in Section 83-7-25, Mississippi Code of 1972, as Amended, and in accordance with Sections 25-43-1 through 25-43-19, Mississippi Code of 1972, known as the M…

The purpose of this Rule is to recognize new mortality tables, 1983 Table "a" and 1983 GAM Table, for use in determining the minimum standard of valuation for annuity and pure endowment contracts. Notes 19 Miss. Code. R. 2-8.02 Miss. Code Ann. § 83-7-25 (Rev 2011)

A. As used in this Rule "1983 Table a'" means that mortality table developed by the Society of Actuaries Committee to Recommend a New Mortality Basis for Individual Annuity Valuation and adopted as a recognized mortality table for annuities in June 1982 by the National Associatio…

A. The 1983 Table "a" is recognized and approved as an individual annuity mortality Table for valuation and, at the option of the company, may be used for purposes of determining the minimum standard of valuation for any individual annuity or pure endowment contract issued on or …

The 1983 GAM Table and the 1983 Table "a" are recognized and approved as group annuity mortality tables for valuation and, at the option of the company, either table may be used for purposes of valuation for any annuity or pure endowment purchased on or after July 1, 1984 under a…

If any provision of this Rule or the application thereof to any person or circumstances is for any reason held to be invalid, the remainder of the regulation and the application of such provision to other persons or circumstances shall not be affected thereby. Notes 19 Miss. Code…

The effective date of this Regulation shall be thirty (30) days from and after its adoption and filing with the Secretary of State of the State of Mississippi. PROMULGATED AND ADOPTED this the _____ day of __________ , 1984. Notes 19 Miss. Code. R. 2-8.07 Miss. Code Ann. § 25-43-…

AGE q 5 .000342 6 .000318 7 .000302 8 .000294 9 .000292 10 .000293 11 .000298 12 .000304 13 .000310 14 .000317 15 .000325 16 .000333 17 .000343 18 .000353 19 .000365 20 .000377 21 .000392 22 .000408 23 .000424 24 .000444 25 .000464 26 .000488 27 .000513 28 .000542 29 .000572 30 .…

AGE q 5 .000171 6 .000140 7 .000118 8 .000104 9 .000097 10 .000096 11 .000104 12 .000113 13 .000121 14 .000131 15 .000140 16 .000149 17 .000159 18 .000168 19 .000179 20 .000189 21 .000201 22 .000212 23 .000225 24 .000238 25 .000252 26 .000268 27 .000282 28 .000301 29 .000320 30 .…

Age Males Females 5 0.377 0.194 6 0.350 0.160 7 0.333 0.134 8 0.352 0.134 9 0.368 0.136 10 0.382 0.141 11 0.394 0.147 12 0.405 0.155 13 0.415 0.165 14 0.425 0.175 15 0.435 0.188 16 0.446 0.201 17 0.458 0.214 18 0.472 0.229 19 0.488 0.244 20 0.505 0.260 21 0.525 0.276 22 0.546 0.2…

I, George Dale, duly elected Commissioner of Insurance of the State of Mississippi, pursuant to the authority granted in me in Section 83-7-25, Mississippi Code of 1972, as Amended, and in accordance with Sections 25-43-1 through 25-43-19, Mississippi Code of 1972, known as the M…

The purpose of this regulation is to supplement existing regulations on life insurance policies in order to accommodate the development and issuance of universal life insurance plans. Notes 19 Miss. Code. R. 2-9.02 Miss. Code Ann. §§ 83-5-1; 83-7-23; 83-7-25 (Rev 2011)

As used in this regulation: A. Universal Life Insurance Policy. "Universal life insurance policy" means any individual life insurance policy under the provisions of which separately identified interest credits (other than in connection with dividend accumulations, premium deposit…

This regulation encompasses all individual universal life insurance policies except those policies defined under Section 2(s) of the Mississippi Variable Life Insurance Regulation Number 84-101. Notes 19 Miss. Code. R. 2-9.04 Miss. Code Ann. § 83-5-1(Rev. 2011)

A. Requirements. 1. The minimum valuation standard for universal life insurance policies shall be the Commissioners Reserve Valuation Method, as described below for such policies, and the tables and interest rates specified below. The terminal reserve for the basic policy and any…

A. Minimum Cash Surrender Values for Flexible Premium Universal Life Insurance Policies.1. Minimum cash surrender values for flexible premium life insurance policies shall be determined separately for the basic policy and any benefits and riders for which premiums are paid separa…

The policy shall provide the following: A. Periodic Disclosure to Policyowner. The policy shall provide that the policy owner will be sent, without charge, at least annually, a report which will serve to keep such policy owner advised as to the status of the policy. The end of th…

A. In connection with any advertising, solicitation, negotiation, or procurement of a universal life insurance policy:1. Any statement of policy cost factors or benefits shall contain: a. The corresponding guaranteed policy cost factors or benefits, clearly identified. b. A state…