2001 CSO preferred class structure table

At the election of an insurer for each calendar year of issue, for any one or more specified plans of insurance and subject to satisfying the conditions stated in this chapter, the 2001 CSO preferred class structure mortality table may be substituted in place of the 2001 CSO smoker or nonsmoker mortality table as the minimum valuation standard for policies issued on or after January 1, 2007. The election may not be made until an insurer demonstrates at least twenty percent of the business to be valued on this table is in one or more of the preferred classes. A table from the 2001 CSO preferred class structure mortality table used in place of a 2001 CSO mortality table will be treated as part of the 2001 CSO mortality table only for purposes of reserve valuation pursuant to the requirements of the national association of insurance commissioners model regulation, regarding recognition of the 2001 CSO mortality table for use in determining minimum reserve liabilities and nonforfeiture benefits model regulation as described in chapter 45-04-07.1.