This section applies to: a plan of life insurance that provides for future premiums to be determined by the insurer based on estimates of future experience; and a plan of life insurance or annuity that is of a nature that precludes determining the minimum reserves by the methods described in §§ 5-307, 5-308, and 5-311 of this subtitle. In accordance with regulations adopted by the Commissioner, the reserves that are held under a plan described in subsection (a) of this section shall: be appropriate in relation to the benefits and pattern of premiums for that plan; and be computed by a method that is consistent with the principles of this subtitle.