NAIC May Cancel Shift to New Guaranteed Issue Life Table
April 9, 2019 by Allison Bell
The National Association of Insurance Commissioners (NAIC) may roll back a move toward a new mortality table for guaranteed issue life insurance.
Some state insurance regulators say moving toward the new 2017 Commissioners Standard Guaranteed Issue Mortality Table, which was approved in 2018, would cause big problems for life insurers.
Regulators have proposed a canceling the shift to the 2017 table and moving back to the old 2001 Commissioners Standard Ordinary ultimate mortality table for guaranteed issue business issued after Dec. 31, 2019.
Definitions
The NAIC is a Kansas City, Missouri-based group for state insurance regulators.
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