{"data":{"id":"us-ky/krs-304.15-344","jurisdiction":"us-ky","citation":"KRS 304.15-344","heading":"Commissioner's approval.","body":"(1) In the case of any plan of life insurance which provides for future premium\ndetermination, the amounts of which are to be determined by the insurer based on\nthen estimates of future experience, or in the case of any plan of life insurance\nwhich is of such a nature that minimum values cannot be determined by the\nmethods described in KRS 304.15-310 to 304.15-340 and in KRS 304.15-342, then:\n(a) The commissioner must be satisfied that the benefits provided under the plan\nare substantially as favorable to polic yholders and insureds as the minimum\nbenefits otherwise required by KRS 304.15-310 to 304.15-360 herein;\n(b) The commissioner must be satisfied that the benefits and the pattern of\npremiums of that plan are not such as to mislead prospective policyholders or\ninsureds;\n(c) The cash surrender values and paid-up nonforfeiture benefits provided by such\nplan must not be less than the minimum values and benefits required for the\nplan computed by a method consistent with the principles of KRS 304.15 -310\nto 304.15 -360, as determined by regulations promulgated by the\ncommissioner.\n(d) Notwithstanding any other provision in the laws of this state, any policy,\ncontract or certificate providing life insurance under any such plan must be\naffirmatively approved by the commissioner before it can be marketed, issued,\ndelivered or used in this state.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=17237","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:44Z","sha256":"70cc1dbcf63bd172c5e93d7cd662f46072a51c9ae7c8184e3c768f7d8317194a","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.15-342","next":"us-ky/krs-304.15-350"},"notice":"GroundRules: Original legal text. Not legal advice."}