Pennsylvania § 7123 - Reserve calculation for indeterminate premium plans.
Full text of Pennsylvania Pennsylvania Consolidated Statutes § 7123 — Reserve calculation for indeterminate premium plans., with citation guidance and answers to common questions.
§ 7123. Reserve calculation for indeterminate premium plans.
(a) Applicability.--This section shall apply to either of the following:
(1) 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.
(2) A plan of life insurance or annuity that is of a nature that the minimum reserves cannot be determined by the methods described in any of the following:
(i) Section 7118 (relating to reserve valuation method for life insurance and endowment benefits).
(ii) Section 7119 (relating to reserve valuation method for annuity and pure endowment benefits).
(iii) Section 7122 (relating to reserve calculation for valuation net premium exceeding gross premium charged).
(b) Nature and calculation of reserves.--The reserves that are held under a plan under this section shall be:
(1) Appropriate in relation to the benefits and the pattern of premiums for the plan.
(2) Computed by a method that is consistent with the principles of this chapter, as determined by regulation.
Cross References. Section 7123 is referred to in sections 7103, 7120 of this title.
Source: official Pennsylvania text · Last verified 2026-08-27
Frequently Asked Questions About Pennsylvania § 7123
What does Pennsylvania Consolidated Statutes § 7123 cover?
Section 7123 ("Reserve calculation for indeterminate premium plans.") is part of the Pennsylvania Consolidated Statutes, the codified statutory law of Pennsylvania. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Pennsylvania § 7123?
A common citation format is "Pennsylvania Consolidated Statutes § 7123" (Pennsylvania). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Pennsylvania law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Pennsylvania official source linked on this page or consult a licensed Pennsylvania attorney.
How does Pennsylvania § 7123 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Pennsylvania can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Pennsylvania.