§ 3788a - Commissioner's authority to approve certain plans - Vermont Statutes

§ 3788a. Commissioner's authority to approve certain plans

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 insurer based on then estimates of future experience, or in the case of any plan of life insurance or annuity which is of such a nature that the minimum reserves cannot be determined by the methods described in sections 3785, 3788 and 3789 of this title, the reserves which are held under any such plan must:

(1) be appropriate in relation to the benefits and the pattern of premiums for that plan; and

(2) be computed by a method which is consistent with the principles of this Standard Valuation Law; all of which shall be determined by rule adopted by the commissioner. (Added 1983, No. 27, § 7.)