(a) In no event shall a company's aggregate reserves for all life insurance policies, excluding disability and accidental death benefits, issued on or after 1968, be less than the aggregate reserves calculated in accordance with the methods set forth in §§ 1115, 1115A, 1118 and 1119 of this title and the mortality table or tables and rate or rates of interest used in calculating nonforfeiture benefits for the policies.
(b) In no event shall the aggregate reserves for all policies, contracts, and benefits be less than the aggregate reserves determined by the appointed actuary to be necessary to render the opinion required by § 1113 of this title.
Structure Delaware Code
Chapter 11. ASSETS AND LIABILITIES
Subchapter III. Life Insurance Reserves
§ 1111. Title and definitions.
§ 1113. Actuarial opinions of reserves.
§ 1114. Computation of minimum standard.
§ 1114A. Computation of minimum standards for annuities.
§ 1114B. Computation of minimum standard by calendar year of issue.
§ 1115. Reserve valuation method—Life insurance and endowment benefits.
§ 1115A. Reserve valuation method—Annuity and pure endowment benefits.
§ 1117. Optional reserve calculation.
§ 1118. Reserve calculation—Valuation net premium exceeding the gross premium charged.
§ 1119. Reserve calculation—Indeterminate premium plans.
§ 1120. Minimum standard for accident and health insurance contracts.
§ 1121. Valuation manual for policies issued on or after the operative date of the valuation manual.
§ 1122. Requirements of a principle-based valuation.