1376

LAWS OF MARYLAND

[Ch. 273

table permitted for calculating the reserves for life
insurance certificates;

(4)    For accidental death benefits in or
supplementary to life insurance certificates—the
Intercompany Double Indemnity Mortality Table or the 1959
Accidental Death Benefits Table. Either table shall be
combined with a mortality table permitted for calculating
the reserves for life insurance certificates; and

(5)   For noncancellable accident and health
benefits—the Class (3) Disability Table (1926) with
conference modifications, or, with the consent of the
Commissioner, tables based upon the society's own
experience.

414.

(i) Except as otherwise provided in subsections
(j) and (k), all adjusted premiums and present values
referred to in this section shall for all policies of
ordinary insurance be calculated on the basis of the
Commissioners 1941 Standard Ordinary Mortality Table, AND
ANY DIFFERENTIAL BASED ON SEX SHALL REFLECT ACTUARIAL
EXPECTANCIES AND SHALL BE SUBJECT TO APPROVAL BY THE
COMMISSIONER [[provided that for any category of ordinary
insurance issued on female risks, adjusted premiums and
present values may be calculated according to an age not
more than three years younger than the actual age of the
insured,]] and such calculations for all policies of
industrial insurance shall be made on the basis of the
1941 Standard Industrial Mortality Table. All
calculations shall be made on the basis of the rate of
interest, not exceeding three and one-half percent (3
1/2%) per annum, specified in the policy for calculating
cash surrender values and paid—up nonforfeiture benefits.
Provided, however, that in calculating the present value
of any paid—up term insurance with accompanying pure
endowment, if any, offered as a nonforfeiture benefit,
the rates of mortality assumed may be not more than one
hundred thirty per cent (130%) of the rates of mortality
according to such applicable table. Provided, further,
that for insurance issued on a substandard basis, the
calculation of any such adjusted premiums and present
values may be based on such other table of mortality as
may be specified by the insurer and approved by the
Commissioner.

(j) In the case of ordinary policies issued on or
after the operative date of this subsection as defined
herein, all adjusted premiums and present values referred
to in this section shall be calculated on the basis of
the Commissioners 1958 Standard Ordinary Mortality Table
[[AND ANY DIFFERENTIAL BASED ON SEX SHALL REFLECT