C.R.S. Section 10-7-206
Issuance and valuation of policies

  • annual statement

(1)

Any life insurance company may issue life or endowment insurance, with or without annuities, upon the group plan, as defined in section 10-7-201, with special rates of premiums less than the usual rates of premiums for such policies. Group policies issued prior to the operative date of the “Standard Nonforfeiture and Valuation Act” may be valued on any accepted table of mortality and interest assumption adopted by the company for that purpose, but in no case shall the standard for any such policy be lower than the medico-actuarial table of mortality, or such other table of mortality as may be approved by the commissioner, with interest assumption at three and one-half percent. Group policies issued on or after the operative date of the “Standard Nonforfeiture and Valuation Act” shall be valued in accordance with the provisions of sections 10-7-309 to 10-7-313.

(2)

All policies of group insurance shall be segregated by the company into separate classes, the mortality experience kept separate, and the number of policies, amount of insurance, reserves, premiums, and payments to the policyholders thereunder, together with the mortality table and interest assumption adopted by the company, shall be reported separately in the company’s annual financial statement.

Source: Section 10-7-206 — Issuance and valuation of policies - annual statement, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-10.­pdf (accessed Oct. 20, 2023).

10–7–101
Valuation of life policies
10–7–102
Life insurance policies - requirements
10–7–103
Life insurance policies - prohibition
10–7–104
Exceptions
10–7–105
Violation
10–7–105.5
Lapse of life insurance policy - notice - affidavit of mailing or electronic transmission - legislative declaration
10–7–106
Exclusive right of insured in proceeds
10–7–107
Nonforfeiture benefits - applicability
10–7–108
Regulating vouchers for disbursements
10–7–109
Suicide no defense for nonpayment
10–7–112
Interest payable on benefits or proceeds
10–7–113
Acceleration of benefits
10–7–114
Actuarial opinion of reserves - definition - rules
10–7–115
Insurable interest - 170 (c) organizations
10–7–116
Military sales - rules
10–7–201
Group life insurance
10–7–202
Policy provisions
10–7–203
Employer defined
10–7–204
Reciprocal provisions
10–7–205
Exemption from execution
10–7–206
Issuance and valuation of policies - annual statement
10–7–207
Assignment
10–7–301
Short title
10–7–301.5
Definitions
10–7–302
Compulsory policy provisions
10–7–303
Computation of cash surrender value
10–7–304
Computation of nonforfeiture benefit
10–7–305
Adjusted premiums
10–7–305.1
Adjusted premiums for new policies
10–7–305.2
Future premium determination - standards
10–7–306
Calculation of values - supplemental rules
10–7–306.1
Calculation of values - new policies
10–7–307
Exemptions
10–7–308
Waiver prohibited
10–7–309
Minimum standard of valuation - rules
10–7–309.5
Minimum standards of valuation for new policies - definition
10–7–310
Life and endowment reserves
10–7–310.5
Individual annuity and pure endowment reserves
10–7–311
Minimum aggregate reserves
10–7–312
Optional standards
10–7–313
Minimum reserves
10–7–313.1
Minimum reserves - exceptions
10–7–313.2
Minimum standards for other coverages including accident and health insurance contracts - rules
10–7–313.3
Valuation manual for policies issued on or after the operative date of the valuation manual - rules
10–7–313.4
Requirements of a principle-based valuation
10–7–313.6
Experience reporting for policies in force on or after the operative date of the valuation manual
10–7–313.8
Confidentiality - definitions
10–7–313.9
Single state exemption
10–7–314
Automatic premium loans
10–7–315
Operative date
10–7–316
Effect on existing policies
10–7–401
Sales not prohibited
10–7–402
Investment contract funds - separate accounts
10–7–403
Where benefits are payable in variable amounts
10–7–404
Authority to issue variable contracts
10–7–405
Construction
10–7–501
Short title
10–7–502
Exemptions
10–7–503
Compulsory contract provisions
10–7–504
Minimum nonforfeiture amounts - rules
10–7–505
Computation of annuity benefit
10–7–506
Computation of cash surrender benefit
10–7–507
Computation of paid-up annuity nonforfeiture benefit
10–7–508
Determination of maturity date
10–7–509
Calculations of values - supplemental rules
10–7–510
Effective date - applicability of part
10–7–511
Rule-making authority
10–7–601
Short title
10–7–602
Definitions
10–7–603
Licensing
10–7–604
Licensure - refusal to issue - suspension - revocation - refusal to renew
10–7–605
Forms approval
10–7–606
Annual reports
10–7–607
Examinations
10–7–608
Disclosures
10–7–609
General requirements
10–7–610
Limited purchase in incontestability period
10–7–611
Advertising - legislative intent
10–7–612
Fraudulent acts
10–7–613
Penalties
10–7–614
Unfair trade practices
10–7–615
Rules
10–7–616
No preemption - Colorado Securities Act - authority of division of securities
10–7–617
Application
10–7–618
Continuation of business
10–7–619
Viatical settlements cash fund - created
10–7–620
Severability
10–7–701
Short title
10–7–702
Definitions
10–7–703
Insurance on the life of another
10–7–704
Insurable interest
10–7–705
Insured’s own life
10–7–706
Reliance on statements
10–7–707
Consent of insured
10–7–708
Prohibited practices
10–7–709
Actions to recover death benefits
10–7–710
Legitimate insurance transactions
10–7–801
Short title
10–7–802
Definitions
10–7–803
Insurers - duty to compare names of insureds with death master file and to locate beneficiaries
Green check means up to date. Up to date

Current through Fall 2024

§ 10-7-206’s source at colorado​.gov