| Notice Filed with SOS |
11/30/2009 |
| Rule |
ProposedRuleAttach2009-01111.DOC |
| Statutory Authority |
10-1-109, and 10-7-305.1(8)(f) |
| Description of Subjects/Issues |
PERMITTING SAME MINIMUM NONFORFEITURE STANDARDS FOR MEN AND WOMEN INSURED UNDER 1980 CSO AND 1980 CET MORTALITY TABLES |
| Purpose/Objective of Rule |
The purpose of this regulation is to permit individual life insurance policies to provide the same cash surrender values and paid-up nonforfeiture benefits to both men and women to the extent necessary to comply with the U.S. Supreme Court decision in Arizona Governing Committee vs. Norris. No change in minimum valuation standards is implied by this regulation.
The purpose of the January 1, 1989 amendment to this regulation, which was to add the Alternative Rule in Section 6, is to permit the use of smoker/nonsmoker status in providing the same cash surrender values and paid-up nonforfeiture benefits to both men and women. |
| Comments |
Todd Larson |
| Submitted in response to issues raised by COLS/OLLS? |
No
|
| Is this rule adopted in response to recent legislation? |
|
| Hearing Date |
01/05/2010 |
| Hearing Time |
02:00 PM |
| Hearing Location |
1560 Broadway, Ste 850, Denver CO, 80202, conf. rm. B |
| Contact Name |
Christine Gonzales-Ferrer |
| Contact Title |
Rulemaking Coordinator |
| Contact Telephone |
303-894-2157 |
| Contact email |
christine.gonzales-ferrer@dora.state.co.us |