§ 38.2-3142. Same - Indeterminate premium plans
For any plan of life insurance that provides for future premium determination, the amounts of which are to be determined by the insurer based on estimates of future experience, or for any plan of life insurance or annuity whose minimum reserves cannot be determined by the methods described in §§ 38.2-3137, 38.2-3138 and 38.2-3141, the reserves held under any such plan shall:
1. Be appropriate in relation to the benefits and the pattern of premiums for that plan; and
2. Be computed by a method consistent with the principles of this article, as determined by regulations promulgated by the Commission.
(Code 1950, § 38-394; 1952, c. 317, § 38.1-456; 1959, Ex. Sess., c. 43; 1962, c. 562; 1975, c. 215; 1979, c. 437; 1982, c. 227; 1986, c. 562.)
Sections: Previous 38.2-3130 38.2-3131 38.2-3132 38.2-3133 38.2-3134 38.2-3135 38.2-3136 38.2-3137 38.2-3138 38.2-3139 38.2-3140 38.2-3141 38.2-3142 38.2-3143 38.2-3144 NextLast modified: April 16, 2009