Ga. Comp. R. & Regs. R. 120-2-39-.05 - Individual Annuity or Pure Endowment Contracts
A. Except as provided in Subsections B and C
of this section, the 1983 Table "a" is recognized and approved as an individual
annuity mortality table for valuation and, at the option of the company, may be
used for purposes of determining the minimum standard of valuation for any
individual annuity or pure endowment contract issued on or after April 24,
1979.
B. Except as provided in
Subsection C of this section, either the 1983 Table "a" or the Annuity 2000
Mortality Table shall be used for determining the minimum standard of valuation
for any individual annuity or pure endowment contract issued on or after
January 1, 1985.
C. Except as
provided in Subsection D of this section, the Annuity 2000 Mortality Table
shall be used for determining the minimum standard of valuation for any
individual annuity or pure endowment contract issued on or after January 1,
2015.
D. Except as provided in
Subsection E of this section, the 2012 IAR Mortality Table shall be used for
determining the minimum standard of valuation for any individual annuity or
pure endowment contract issued on or after January 1, 2015.
E. The 1983 Table "a" without projection is
to be used for determining the minimum standards of valuation for an individual
annuity or pure endowment contract issued on or after January 1, 2014, solely
when the contract is based on life contingencies and is issued to fund periodic
benefits arising from:
(1) Settlements of
various forms of claims pertaining to court settlements or out of court
settlements from tort actions;
(2)
Settlements involving similar actions such as worker's compensation claims;
or
(3) Settlements of long term
disability claims where a temporary or life annuity has been used in lieu of
continuing disability payments.
Notes
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