Maryland Statutes
Subtitle 3 - Standard Valuation Law
Section 5-309 - Policies and Contracts Issued on or After Operative Date of Standard Nonforfeiture Law -- Minimum Reserves for Life Insurance Policies

(a)    This section does not apply to reserves for disability and accidental death benefits and benefits for long-term home health care and long-term care in a nursing home or other related institution included in a life insurance policy.
    (b)    An insurer’s aggregate reserves for all life insurance policies may not be less than the aggregate reserves calculated in accordance with:
        (1)    the methods set forth in §§ 5-307, 5-308, 5-311, and 5-312 of this subtitle; and
        (2)    the mortality tables and rates of interest used in calculating nonforfeiture benefits for those policies.

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Structure Maryland Statutes

Maryland Statutes

Insurance

Title 5 - Assets, Liabilities, Reserves, and Investments of Insurers

Subtitle 3 - Standard Valuation Law

Section 5-301 - Definitions

Section 5-301.1 - Valuation of Reserves Required

Section 5-302 - Policies and Contracts Issued Before Operative Date of Standard Nonforfeiture Law

Section 5-303 - Policies and Contracts Issued on or After Operative Date of Standard Nonforfeiture Law -- Scope

Section 5-304 - Policies and Contracts Issued on or After Operative Date of Standard Nonforfeiture Law -- Computation of Minimum Standard

Section 5-305 - Policies and Contracts Issued on or After Operative Date of Standard Nonforfeiture Law -- Computation of Minimum Standard for Annuities

Section 5-306 - Policies and Contracts Issued on or After Operative Date of Standard Nonforfeiture Law -- Computation of Minimum Standard by Calendar Year of Issue

Section 5-307 - Policies and Contracts Issued on or After Operative Date of Standard Nonforfeiture Law -- Reserve Valuation Method for Life Insurance and Endowment Benefits

Section 5-308 - Policies and Contracts Issued on or After Operative Date of Standard Nonforfeiture Law -- Reserve Valuation Method for Annuity and Pure Endowment Benefits

Section 5-309 - Policies and Contracts Issued on or After Operative Date of Standard Nonforfeiture Law -- Minimum Reserves for Life Insurance Policies

Section 5-310 - Policies and Contracts Issued on or After Operative Date of Standard Nonforfeiture Law -- Optional Reserve Calculation

Section 5-311 - Policies and Contracts Issued on or After Operative Date of Standard Nonforfeiture Law -- Reserve Calculation for Valuation Net Premium Exceeding Gross Premium Charged

Section 5-312 - Policies and Contracts Issued on or After Operative Date of Standard Nonforfeiture Law -- Reserve Calculation for Indeterminate Premium Plans

Section 5-313 - Valuation Manual

Section 5-314 - Valuation Manual -- Reserves

Section 5-315 - Submission of Data as Required in Valuation Manual

Section 5-316 - Confidentiality

Section 5-317 - Exemptions