Mississippi Administrative Code

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…

A. Requirements. 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 of the status of the policy. The end of the current report period shall be not more than three months previ…

A. Initial Filing Requirements. The following information shall be submitted in connection with any filing of interest-indexed universal life insurance policies ("interest-indexed policies"). All such information received shall be treated confidentially to the extent permitted by…

If any provision of this rule or the application thereof to any person or circumstance is for any reason held to be invalid, the remainder of the rule and the application of such provision to other persons or circumstances shall not be affected thereby. Notes 19 Miss. Code. R. 2-…

This regulation shall become effective thirty (30) days after its adoption and filing with the Mississippi Secretary of State's Office, as required by law. PROMULGATED AND ADOPTED, this the 13th day of August, 1984. Notes 19 Miss. Code. R. 2-9.12 Miss. Code Ann. § 25-43-3.113 (Re…

TO ALL COMPANIES WRITING HEALTH, ACCIDENT & HOSPITALIZATION INSURANCE IN MISSISSIPPI. It has come to the attention of the State Insurance Department that certain agents in the State make a practice of having the insured's check made to the agent personally rather than to the comp…

The purpose of this regulation is to provide for the reasonable standardization of coverage and simplification of terms and benefits of Medicare supplement policies; to facilitate public understanding and comparison of such policies; to eliminate provisions contained in such poli…

This regulation is issued pursuant to the authority vested in the commissioner under Miss. Code Ann. § 83-9-103 and § 83-9-105. Notes 19 Miss. Code. R. 3-10.02 Miss Code Ann §§ 83-9-103; 83-9-105 (Rev. 2011) Amended 1/1/2020 Wherever the term "commissioner" appears, the title of …

A. Except as otherwise specifically provided in Rules 10.07, 10.13, 10.14, 10.17 and 10.22, this regulation shall apply to: 1. All Medicare supplement policies delivered or issued for delivery in this state on or after the effective date of this regulation; and 2. All certificate…

For purposes of this regulation: A. "Applicant" means: 1. In the case of an individual Medicare supplement policy, the person who seeks to contract for insurance benefits, and 2. In the case of a group Medicare supplement policy, the proposed certificate holder. B. "Bankruptcy" m…

No policy or certificate may be advertised, solicited or issued for delivery in this state as a Medicare supplement policy or certificate unless the policy or certificate contains definitions or terms which conform to the requirements of this section. A. "Accident," "accidental i…

A. Except for permitted preexisting condition clauses as described in Rules 10.07 A(1), 10.08A(1), and 10.08.1A(1) of this regulation, no policy or certificate may be advertised, solicited or issued for delivery in this state as a Medicare supplement policy if the policy or certi…

Minimum Benefit Standards for Pre-Standardized Medicare Supplement Benefit Plan Policies or Certificates Issued For Delivery Prior To July 1, 1992 No policy or certificate may be advertised, solicited or issued for delivery in this state as a Medicare supplement policy or certifi…

Benefit Standards for 1990 Standardized Medicare Supplement Benefit Plan Policies or Certificates Issued For Delivery After July 1, 1992 With An Effective Date For Coverage Prior To June 1, 2010 The following standards are applicable to all Medicare supplement policies or certifi…

Benefit Standards For 2010 Standardized Medicare Supplement Benefit Plan Policies Or Certificates Issued For Delivery With An Effective Date For Coverage On Or After June 1, 2010 The following standards are applicable to all Medicare supplement policies or certificates delivered …

Standard Medicare Benefit Plans For 1990 Standardized Medicare Supplement Benefit Plan Policies or Certificates Issued for Delivery after July 1, 1992 and with an Effective Date for Coverage Prior to June 1, 2010 A. An issuer shall make available to each prospective policyholder …

Standard Medicare Supplement Benefit Plans for 2010 Standardized Supplement Benefit Plan Policies or Certificates Issued for Delivery Effective Date for Coverage on or After June 10, 2010 The following standards are applicable to all Medicare supplement policies or certificates d…

Standard Medicare Supplement Benefit Plans for 2020 Standardized Medicare Supplement Benefit Plan Policies or Certificates Issued for Delivery to Individuals Newly Eligible for Medicare on or After January 1, 2020. The Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) …

A. 1. This section shall apply to Medicare Select policies and certificates, as defined in this section. 2. No policy or certificate may be advertised as a Medicare Select policy or certificate unless it meets the requirements of this section. B. For the purposes of this section:…

A. An issuer shall not deny or condition the issuance or effectiveness of any Medicare supplement policy or certificate available for sale in this state, nor discriminate in the pricing of a policy or certificate because of the health status, claims experience, receipt of health …

A. Guaranteed Issue. 1. Eligible persons are those individuals described in Subsection B who seek to enroll under the policy during the period specified in Subsection C, and who submit evidence of the date of termination, disenrollment, or Medicare Part D enrollment with the appl…

A. An issuer shall comply with Section 1882(c)(3) of the Social Security Act (as enacted by section 4081(b)(2)(C) of the Omnibus Budget Reconciliation Act of 1987 (OBRA) 1987, Pub. L. No. 100-203) by:1. Accepting a notice from a Medicare carrier on dually assigned claims submitte…

A. Loss Ratio Standards. 1. a. A Medicare Supplement policy form or certificate form shall not be delivered or issued for delivery unless the policy form or certificate form can be expected, as estimated for the entire period for which rates are computed to provide coverage, to r…