Life

Filing requirements

Effective Jan. 1, 2004, Oregon adopted the 2001 CSO Mortality Tables for life products. See OAR 836-051-0106.

Paper filings – Insurers updating prior approved policies and riders with the new table will need to file the following:

  1. Two copies of the policy/rider with a revision date added to the cover page of the policy/rider submitted. Or a complete new form number may be assigned.
  2. Highlight changes in one copy of the form. To limit review to the highlighted changes, only the mortality table references and the updated Table of Values can be changed.
  3. Complete only the Actuarial portion of the Product Standards.
  4. Submit an updated actuarial memorandum
  5. Two copies of an accurate NAIC Transmittal Form.
  6. A completed and signed Certificate of Compliance.

See the following website for forms: http://dfr.oregon.gov/rates-forms/life/Pages/life.aspx.

SERFF filings – Insurers updating prior approved policies and riders with the new table will need to file the following:

  1. A copy of the policy/rider with a revision date added to the cover page of the policy/rider submitted. Or a complete new form number may be assigned.
  2. Highlight changes in one copy of the form. To limit review to the highlighted changes, only the mortality table references and the updated Table of Values can be changed.
  3. Complete only the Actuarial portion of the Product Standards.
  4. Submit an updated actuarial memorandum.
  5. A completed and signed Certificate of Compliance.

See the following website for forms: http://dfr.oregon.gov/rates-forms/life/Pages/life.aspx.