C.R.S. Section 10-7-305.2
Future premium determination

  • standards

(1)

In the case of any plan of life insurance which provides for future premium determination, the amounts of which are to be determined by the insurance company based on the then present estimates of future experience, or in the case of any plan of life insurance which is of such a nature that minimum values cannot be determined by the methods described in section 10-7-302, 10-7-303, 10-7-304, 10-7-305, or 10-7-305.1, then:

(a)

The commissioner must be satisfied that the benefits provided under the plan are substantially as favorable to policyholders and insureds as the minimum benefits otherwise required by section 10-7-302, 10-7-303, 10-7-304, 10-7-305, or 10-7-305.1;

(b)

The commissioner must be satisfied that the benefits and the pattern of premiums of that plan are not such as to mislead prospective policyholders or insureds;

(c)

The cash surrender values and paid-up nonforfeiture benefits provided by such plan must not be less than the minimum values and benefits required for the plan computed by a method consistent with the principles of this part 3, as determined by regulations promulgated by the commissioner.

Source: Section 10-7-305.2 — Future premium determination - standards, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2024-title-10.­pdf (accessed May 26, 2025).

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

Current through Fall 2025

§ 10-7-305.2. Future premium determination's source at colorado​.gov