{"data":{"id":"us-ky/krs-304.29-251","jurisdiction":"us-ky","citation":"KRS 304.29-251","heading":"Valuation.","body":"(1) Standards of valuation for certificates issued prior to one (1) year after January 1,\n1989, shall be those provided by the laws applicable immediately prior to January 1,\n1989.\n(2) The minimum standards of valuation for certificates issued on or after one (1) year\nfrom January 1, 1989, shall be based on the following tables:\n(a) For certificates of life insurance -- the commissioner's 1941 standard ordinary\nmortality table, the commissioner's 1941 standard industrial mortality table,\nthe commissioner's 1958 standard ordinary mortality table, the commissioner's\n1980 standard ordinary mortality table, or any more recent table made\napplicable to life insurers;\n(b) For annuity and pure endowment certificates, for total and permanent\ndisability benefits, for acci dental death benefits and for noncancellable\naccident and health benefits -- such tables as are authorized for use by life\ninsurers in this state.\nAll of the above shall be under valuation methods and standards, including interest\nassumptions, in accordan ce with the laws of this state applicable to life insurers\nissuing policies containing like benefits.\n(3) The commissioner may, in his or her discretion, accept other standards for valuation\nif he or she finds that the reserves produced thereby will not be  less in the aggregate\nthan reserves computed in accordance with the minimum valuation standard herein\nprescribed. The commissioner may, in his or her discretion, vary the standards of\nmortality applicable to all benefit contracts on substandard lives or o ther extra\nhazardous lives by any society authorized to do business in this state.\n(4) Any society, with the consent of the commissioner of insurance of the state of\ndomicile of the society and under the conditions, if any, which the commissioner\nmay impose, may establish and maintain reserves on its certificates in excess of the\nreserves required thereunder, but the contractual rights of any benefit member shall\nnot be affected thereby.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=29695","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:53Z","sha256":"6fcf614bcd9f3097a088d16e5e120e1a98c6cda261e34a1a0ca9c696c4add926","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.29-250","next":"us-ky/krs-304.29-260"},"notice":"GroundRules: Original legal text. Not legal advice."}