Are all life insurance companies moving to the 2001 CSO Mortality Tables?
State regulations require every life insurance company to use the 2001 CSO Table by January 1, 2009. What are the transitional rules for New Business? Every carrier will have their own transitional rules, but the following rules apply to all of the companies: • All applications for products written on the 1980 CSO must be received in the Home Office in good order by 10/31/08. • These policies must be placed (in force with money) by 12/31/08. • The policy date must be no later than 12/28/08. • In order to receive a policy for a 1980 CSO life product, the policy must be signed on or before December 21,2008, and received in the Service Center on or before December 29,2008 with the appropriate modal premium. • Applications signed after December 21,2008, or applications received after December 29,2008, or applications NOT received with money by December 29, 2008,will be issued on a policy supported by the 2001 CSO table, assuming one is approved by the state and system supported. An amendme
