OAR 836-031-0300
Reserves for Waiver of Premium


(1)

Waiver of premium reserves involves several special considerations. First, the disability valuation tables promulgated by the NAIC are based on exposures that include contracts on premium waiver as in-force contracts. Hence, contract reserves based on these tables are not reserves on active lives but rather are reserves on contracts in force. This is true for the 1964 CDT and for both the 1985 CIDA and CIDB tables.

(2)

Reserves using any of the tables described in section (1) of this rule shall value reserves on the following basis:

(a)

Claim reserves must include reserves for premiums expected to be waived, valuing as a minimum the valuation net premium being waived;

(b)

Premium reserves must include contracts on premium waiver as in-force contracts, valuing as a minimum the unearned modal valuation net premium being waived; and

(c)

Contract reserves must include recognition of the waiver of premium benefit in addition to other contract benefits provided for, valuing as a minimum the valuation net premium to be waived.

Source: Rule 836-031-0300 — Reserves for Waiver of Premium, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=836-031-0300.

836–031–0200
Scope, Authority
836–031–0210
Definitions, Application and Explanation of Technical Terms Used
836–031–0220
Principles Governing Reserves
836–031–0230
Claim Reserves
836–031–0240
Premium Reserves
836–031–0250
Contract Reserves
836–031–0260
Reinsurance
836–031–0270
Specific Standards for Morbidity
836–031–0280
Specific Standards for Interest
836–031–0290
Specific Standards for Mortality
836–031–0300
Reserves for Waiver of Premium
836–031–0400
Allowed Assets
836–031–0410
Title Insurance Unearned Premium Reserve
836–031–0600
Purpose
836–031–0605
Valuation Manual
836–031–0610
Authority
836–031–0620
Scope
836–031–0630
Definitions
836–031–0640
General Requirements
836–031–0670
Statement of Actuarial Opinion Based On an Asset Adequacy Analysis
836–031–0680
Description of Actuarial Memorandum Including an Asset Adequacy Analysis and Regulatory Asset Adequacy Summary
836–031–0690
Additional Considerations for Analysis
836–031–0750
Purpose, Authority and Applicability
836–031–0755
Applicability
836–031–0760
Definitions
836–031–0765
General Calculation Requirements for Basic Reserves and Premium Deficiency Reserves
836–031–0770
Calculation of Minimum Valuation Standard for Policies with Guaranteed Nonlevel Gross Premiums or Guaranteed Nonlevel Benefits (Other than Universal Life Policies)
836–031–0775
Calculation of Minimum Valuation Standard for Flexible Premium and Fixed Premium Universal Life Insurance Policies that Contain Provisions Resulting in the Ability of a Policyowner to Keep a Policy in Force Over a Secondary Guarantee Period
836–031–0800
Purpose, authority
836–031–0805
Definitions
836–031–0810
2001 CSO Preferred Class Structure Table
836–031–0815
Conditions
836–031–0855
Recoupment of Assessments by Oregon Insurance Guaranty Association
Last Updated

Jun. 8, 2021

Rule 836-031-0300’s source at or​.us