IC 27-1-12.8-32: Minimum reserve requirement for certain contracts

Sec. 32. In the case of:

(1) a plan of life insurance that provides for future premium determination, the amounts of which are to be determined by the company based on estimates of future experience; or

(2) a contract of life insurance or annuity that is of such a nature that the minimum reserves cannot be determined by the methods described in sections 27, 28, and 31 of this chapter;

the reserves that are held under the contract must be appropriate in relation to the benefits and pattern of premiums for the contract and computed by a method that is consistent with the principles of this chapter, as determined under rules adopted by the commissioner under IC 4-22-2.