Summary, The purpose of this rule is to recognize the inadequacy of the 2001 Commissioners Standard Ordinary Life Valuation Mortality Table for use in determining the minimum standard of valuation and the minimum standard nonforfeiture value, and to require ..., Vol. 35, No. 13 (04/03/2009), 2009 Issues, Florida Administrative Register

Summary

This rule calls for adopting the 1980 Commissioner’s Standard Ordinary Life Valuation Mortality Tables (1980 CSO) for use in determining reserve value and non-forfeiture value of pre-need life insurance, rather than using the new 2001 Commissioners’ Ordinary Standard Life Valuation Mortality Tables (2001 CSO). The rule allows use of the 2001 CSO for pre-need life insurance policies issued before January 1, 2012, but only after the insurance company submits documentation demonstrating they have adequate reserves.