                                 CODE OF VIRGINIA

RESERVE CALCULATION; INDETERMINATE PREMIUM PLANS (§ 38.2-1377)

In the case of a plan of life insurance that provides for future premium
determination, the amounts of which are to be determined by the insurance
company based on then estimates of future experience, or in the case of a plan
of life insurance or annuity that is of such a nature that the minimum reserves
cannot be determined by the methods described in §§ 38.2-1372, 38.2-1373, and
38.2-1376, the reserves that are held under the plan shall:

1. Be appropriate in relation to the benefits and the pattern of premiums for
that plan; and

2. Be computed by a method that is consistent with the principles of this
article, as determined by regulations adopted by the Commission.

HISTORY: 2014, c. 571.