Pennsylvania Statutes Title 40 P.S. Insurance § 991.2451. Valuation

(a) Existing certificates.--The minimum reserves for certificates issued prior to February 12, 1994, shall be those provided by the laws applicable immediately prior to February 12, 1993.

(b) New certificates.--The minimum reserves for certificates issued after February 11, 1994, shall be based on the following tables:

(c) Valuation methods and standards.--All of the valuations under subsection (b) shall be under valuation methods and interest standards in accordance with the laws of this Commonwealth applicable to life insurers issuing policies containing like benefits.

(d) Other valuation standards.--The commissioner may, in his discretion, accept other standards for valuation if the commissioner finds that the reserves produced thereby will not be less in the aggregate than reserves computed in accordance with the minimum valuation standard prescribed in this section. The commissioner may, in his discretion, vary the standards of mortality applicable to all benefit contracts on substandard lives or other extrahazardous lives by any society authorized to do business in this Commonwealth.

(e) Excess reserves.--Any society, with the consent of the commissioner of insurance of the state of domicile of the society and under such conditions, if any, which the commissioner may impose, may establish and maintain reserves on its certificates in excess of the reserves required thereunder, but the contractual rights of any benefit member shall not be affected thereby.