Chapter 71 of the Insurance Department Rules was filed with the Secretary of State for adoption on June 18, 2009, with an implementation date of June 23, 2009.
Chapter 71 entitled, “Valuation of Life Insurance Polices Regulation” was amended to remove the artificial X factor restrictions (20% floor and non-decreasing requirements) from the deficiency reserve calculation required by Chapter 71 which established a methodology for calculating deficiency reserves that allows life insurers to adjust valuation mortality by their experience through the use of an X factor that they apply to the valuation mortality, and correct numbering and typographical errors.
Copies of Chapter 71 may be obtained by forwarding a check in the amount of $19.00 for each copy requested made payable to the Nebraska Department of Insurance, 941 O Street, Suite 400, Lincoln, Nebraska 68508 (and through the Department’s web site at www.doi.ne.gov). Any questions concerning Chapter 71 should be directed to Mike Boyd.
