(b)__The association may reinsure any alternative or reissued policy;

(c)__Alternative policies adopted by the association are subject to the approval of the superintendent and the receivership court.__The association may adopt alternative policies of various types for future issuance without regard to any particular impairment or insolvency;

(d)__Alternative policies must contain at least the minimum statutory provisions required in this State and provide benefits that are not unreasonable in relation to the premium charged.__ The association shall set the premium in accordance with a table of rates that it adopts.__ The premium must reflect the amount of insurance to be provided and the age and class of risk of each insured, but may not reflect any changes in the health of the insured after the original policy was last underwritten; and

(e)__Any alternative policy issued by the association must provide coverage of a type similar to that of the policy issued by the impaired or insolvent insurer, as determined by the association.

(5)__If the association elects to reissue terminated coverage at a premium rate different from that charged under the terminated policy, the premium must be set by the association in accordance with the amount of insurance provided and the age and class of risk, subject to approval of the superintendent and the receivership court.

(6)__The association's obligations with respect to coverage under any policy of the impaired or insolvent insurer or under any reissued or alternative policy must cease on the date the coverage or policy is replaced by another similar policy by the policy owner, the insured or the association.

(7)__When proceeding under this paragraph with respect to a policy or contract carrying guaranteed minimum interest rates, the association shall assure the