Michigan Compiled Laws
218-1956-8 - Chapter 8 Assets and Liabilities (500.808...500.842)
Section 500.836a - Valuation of Disability Plans and Contracts Issued Before Date of Valuation Manual; Regulations; Accidental and Health Insurance Contracts; Definitions.

Sec. 836a.
(1) The director shall promulgate regulations containing the minimum standards applicable to the valuation of disability plans and contracts issued before the date of the valuation manual. For accident and health insurance contracts issued on or after the operative date of the valuation manual, the standard prescribed in the valuation manual is the minimum standard of valuation required under section 830(2).
(2) As used in this section, the following definitions apply on and after the operative date of the valuation manual:
(a) "Accident and health insurance" means contracts that incorporate morbidity risk and provide protection against economic loss resulting from accident, sickness, or medical conditions and as may be specified in the valuation manual.
(b) "NAIC" means the national association of insurance commissioners.
(c) "Valuation manual" means the manual of valuation instructions adopted by the NAIC as specified in section 836b.
History: Add. 2014, Act 571, Eff. Mar. 31, 2015 Popular Name: Act 218

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Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 500 - Insurance Code of 1956

Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)

218-1956-8 - Chapter 8 Assets and Liabilities (500.808...500.842)

Section 500.808 - Stock or Mutual Insurers; Unearned Premium Reserves, Pro Rata Basis, Computation.

Section 500.810 - Reserves; Computation; Additional Reserves; Plan to Restore Compliance; Effect of Noncompliance; Examination of Reserve Practices and Investment Incomes.

Section 500.811 - Repealed. 1994, Act 148, Imd. Eff. June 7, 1994.

Section 500.812 - Repealed. 1969, Act 318, Eff. Mar. 20, 1970.

Section 500.813 - Repealed. 1992, Act 182, Imd. Eff. Oct. 1, 1992.

Section 500.814 - Certification of Loss Reserves.

Section 500.814a - Statement of Actuarial Opinion; Filing Requirements; Confidentiality; Michigan Automobile Insurance Placement Facility Not Property and Casualty Insurer.

Section 500.815 - Computation of Unearned Premium Reserve on Mortgage Guaranty Insurance.

Section 500.815a - Establishment of Contingency Reserve by Mortgage Guaranty Insurer.

Section 500.816 - Repealed. 1969, Act 318, Eff. Mar. 20, 1970.

Section 500.817 - Repealed. 1966, Act 221, Imd. Eff. July 11, 1966.

Section 500.818, 500.822 - Repealed. 1969, Act 318, Eff. Mar. 20, 1970.

Section 500.830 - Life Insurance Policies and Annuity and Pure Endowment Contracts; Life Insurance Contracts, Annuity and Pure Endowment Contracts, Accident and Health Contracts, and Deposit-Type Contracts; Annual Valuation of Reserves; Limitation; V...

Section 500.830a - Life Insurance; Actuarial Opinion; Form; Submission to Director; Liability of Actuary; “Qualified Actuary” Defined; Limitation; Public Hearing; Company With Outstanding Life Insurance Contracts, Accident and Health Insurance Contra...

Section 500.831 - Domestic Insurer's Business in Foreign Country; Variance of Mortality Standard.

Section 500.832 - Valuation of Life Insurance Policies and Contracts Issued Before Operative Date of Standard Nonforfeiture Law.

Section 500.834 - Valuation of Life Insurance Policies and Contracts Issued on and After Operative Date of Standard Nonforfeiture Law; Minimum Standard; Reserves; Definitions.

Section 500.835 - Valuation of Individual Annuity and Pure Endowment Contracts; Minimum Standard; Notice of Election to Invoke Section; Failure to Make Election; Definitions.

Section 500.835a - Individual Annuity and Pure Endowment Contracts Purchased After December 31, 2014; Annuities and Pure Endowments Purchased After December 31, 2014 Under Group Annuity and Pure Endowment Contracts; Valuation; Tables and Interest Rat...

Section 500.836 - Calendar Year Statutory Valuation Interest Rates; Use; Determination; Weighting Factors; “Reference Interest Rate” Defined; Alternative Method for Determination of Reference Interest Rate; Changes to Policy or Contract Forms; Comput...

Section 500.836a - Valuation of Disability Plans and Contracts Issued Before Date of Valuation Manual; Regulations; Accidental and Health Insurance Contracts; Definitions.

Section 500.836b - Valuation Manual; Establishment of Reserves Using Principle-Based Valuation; Duties of Company; Confidential Information; Definitions.

Section 500.837 - Definitions; Valuation Requirements for Universal Life Insurance Policies.

Section 500.838 - Definitions; Use of Naic Accounting Practices and Procedures Manual; Mortality Table; Separate Rates for Smokers and Nonsmokers; Determining Minimum Reserve Liabilities, Minimum Cash Surrender Values, and Amounts of Paid-Up Nonforfe...

Section 500.838a - Definitions; 2001 Cso Preferred Class Structure Mortality Table.

Section 500.839 - Capital Notes.

Section 500.840 - Repealed. 1969, Act 318, Eff. Mar. 20, 1970.

Section 500.841 - Valuation of Certain Bonds or Other Evidences of Debt.

Section 500.842 - Valuation of Certain Securities, Stocks, or Shares.