Title 27, Title 27 Title 27

(a) For policies issued on or after the operative date of the valuation manual, the standard prescribed in the valuation manual is the minimum standard of valuation required under § 27-4.5-2(b), except as provided under subsections (e) or (g) of this section. (b) The operative da…

(a) A company must establish reserves using a principle-based valuation that meets the following conditions for policies or contracts as specified in the valuation manual: (1) Quantify the benefits and guarantees, and the funding, associated with the contracts and their risks at …

A company shall submit mortality, morbidity, policyholder behavior, or expense experience and other data as prescribed in the valuation manual.

(a) For purposes of this section, “confidential information” shall mean: (1) A memorandum in support of an opinion submitted under § 27-4.5-3 and any other documents, materials, and other information, including, but not limited to, all working papers, and copies thereof, created,…

(a) The commissioner may exempt specific product forms or product lines of a domestic company that is licensed and doing business only in Rhode Island from the requirements of § 27-4.5-13 provided: (1) The commissioner has issued an exemption in writing to the company and has not…

(a) Policies and contracts issued prior to the operative date of the valuation manual. (1) The commissioner of insurance shall annually value, or cause to be valued, the reserve liabilities, called “reserves” in this chapter, for all outstanding life insurance policies and annuit…

(a) Actuarial opinion prior to the operative date of the valuation manual. (1) General. Every life insurance company doing business in this state shall annually submit the opinion of a qualified actuary as to whether the reserves and related actuarial items held in support of the…

(a) The minimum standard for valuation of all policies and contracts issued prior to the effective date of this chapter shall be that provided by the laws in effect immediately prior to that date. Except as otherwise provided in §§ 27-4.5-4, 27-4.5-4.1, and 27-4.5-10, the minimum…

(a) The interest rates used in determining the minimum standard for the valuation of the following shall be calendar year statutory valuation interest rates as defined in this section: (1) Life insurance policies issued in a particular calendar year on or after January 1, 1994; (…

(a) Except as provided in §§ 27-4.5-5.1, 27-4.5-8, and 27-4.5-10, reserves according to the commissioners reserve valuation method for the life insurance and endowment benefits of policies providing for a uniform amount of insurance and requiring the payment of uniform premiums s…

(a) This section shall apply to all annuity and pure endowment contracts other than group annuity and pure endowment contracts purchased under a retirement plan or plan of deferred compensation, established or maintained by an employer, including a partnership or sole proprietors…

(a) In no event shall a company’s aggregate reserves for all life insurance policies, excluding disability and accidental death benefits, issued on or after January 1, 1994, be less than the aggregate reserves calculated in accordance with the methods set forth in §§ 27-4.5-5, 27…

(a) Reserves for all policies and contracts issued prior to January 1, 1994, may be calculated, at the option of the company, according to any standards that produce greater aggregate reserves for all such policies and contracts than the minimum reserves required by the laws in e…

(a) If in any contract year the gross premium charged by the company on any policy or contract is less than the valuation net premium for the policy or contract calculated by the method used in calculating the reserve but using the minimum valuation standards of mortality and rat…

In the case of a plan of life insurance that provides for future premium determination, the amounts of which are to be determined by the insurance company based on the then estimates of future experience, or in the case of any plan of life insurance or annuity that is of such a n…