Reserves hich qualify as life insur- ance reserves Sample Clauses

Reserves hich qualify as life insur- ance reserves. The following reserves, provided they meet the requirements of section 801(b) and paragraph (a) of this section, are illustrative of reserves which shall be included as life insur- ance reserves: (1) Reserves held under life insurance contracts. (2) Reserves held under annuity con- tracts (including reserves held under variable annuity contracts as described in section 801(g)(1)). (3) Reserves held under noncancellable health and accident in- surance contracts (as defined in para- graph (c) of § 1.801–3) and reserves held under guaranteed renewable health and accident insurance contracts (as de- fined in paragraph (d) of § 1.801–3). (4) Reserves held either separately or combined under contracts described in subparagraphs (1), (2), or (3) of this paragraph. (5) Reserves held under deposit ad- ministration contracts. Generally, the reserves held by a life insurance com- pany on both the active and retired lives under deposit administration con- tracts will meet the requirements of section 801(b) and paragraph (a) of this section. However, reserves held by the company with respect to the net value of risks reinsured in other solvent companies (whether or not authorized) shall be de- ducted from the company’s life insur- ance reserves. See paragraph (a) of this section.
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