MCL - 218-1956-7
Act 218 of 1956
RESERVE STANDARDS FOR DISABILITY INSURANCE
| Document | Type | Description |
|---|---|---|
| Section 500.701 | Section | Definitions. |
| Section 500.702 | Section | Health insurance reserves; determination of adequacy; basis. |
| Section 500.703 | Section | Claim reserves and claim expense reserves required; conditions; testing for adequacy and reasonableness. |
| Section 500.705 | Section | Disability income claim reserves; maximum interest rate; morbidity standards specified in rules; exception; group disability income claim reserves; duration from date of disablement 2 years or more but less than 5 years; basis; request for modification plan approval; elimination period; measurement of disablement duration. |
| Section 500.707 | Section | Health insurance benefits other than disability income; claim reserves maximum interest rate; basis of claim reserve. |
| Section 500.709 | Section | Estimation of claim liabilities; methods. |
| Section 500.711 | Section | Unearned premium reserves; treatment of premiums due and unpaid; discount of certain gross premiums paid in advance. |
| Section 500.713 | Section | Minimum unearned premium reserve; basis; sum of unearned premium and contract reserves; limitation. |
| Section 500.715 | Section | Premium reserves; computation. |
| Section 500.717 | Section | Contract reserves; required for certain policies and certificates; exception; addition to claim and premium reserves; methods and procedures; date of incurral defined. |
| Section 500.719 | Section | Morbidity standards; rules; structure of valuation net premiums; valuation of health insurance policies and certificates for which tabular morbidity standards not specified; maximum interest rate for contract reserves; termination rates; adjustment of morbidity standard on aggregate basis; minimum reserve; application of certain reserve adjustments; offset of negative reserves against positive reserves; total contract reserve not less than zero. |
| Section 500.721 | Section | Application of alternative method or basis to contract reserve; assumptions; methods to determine sound value of liabilities. |
| Section 500.723 | Section | Tabular reserves; annual review; increments; restriction of future gross premiums; establishment of contract reserves for insufficiency in aggregate. |
| Section 500.725 | Section | Reinsurance; determination of increases to, or credit against, reserves. |
| Section 500.729 | Section | Individual insurance policies; minimum morbidity standards for disability income benefits; basis of contract reserve standards for certain hospital, surgical, and maternity benefits; basis of contract reserve standards for certain cancer expense benefits and accidental death benefits. |
| Section 500.731 | Section | Disability benefits for group health insurance certificates; minimum morbidity standards. |
| Section 500.733 | Section | Maximum interest rates. |
| Section 500.735 | Section | Mortality basis; use of other mortality tables; request for approval. |
| Section 500.737 | Section | Rules. |