(1) The purpose of these rules is to provide:

(a) tables of select mortality factors and rules for their use;

(b) rules concerning a minimum standard for the valuation of plans with nonlevel premiums or benefits; and

(c) rules concerning a minimum standard for the valuation of plans with secondary guarantees.

(2) The method for calculating basic reserves defined in these rules will constitute the commissioners' reserve valuation method for policies to which these rules are applicable.