Minnesota Statutes 61A.255 – Smoker and Nonsmoker Mortality Tables
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For the purposes of sections 61A.24 and 61A.25, insurers may utilize the 1958 Commissioners Standard Ordinary and the 1958 Commissioners Extended Term smoker and nonsmoker mortality tables and the 1980 Commissioners Standard Ordinary and the 1980 Commissioners Extended Term smoker and nonsmoker mortality tables in addition to the tables specified in sections 61A.24 and 61A.25. The tables may be utilized as provided in the model rule permitting smoker and nonsmoker mortality tables for use in determining minimum reserve liabilities and nonforfeiture benefits adopted by the National Association of Insurance Commissioners. This section applies to policies issued on or after January 1, 1984, and before January 1, 1989.
Terms Used In Minnesota Statutes 61A.255
- association: shall be construed to mean life insurance company unless the context clearly indicates otherwise. See Minnesota Statutes 61A.01
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.