Florida Administrative Code
69 - DEPARTMENT OF FINANCIAL SERVICES
69O - OIR - Insurance Regulation
Chapter 69O-162 - ANNUITY CONTRACTS
Section 69O-162.104 - Individual Annuity or Pure Endowment Contracts

Universal Citation: FL Admin Code R 69O-162.104

Current through Reg. 50, No. 187; September 24, 2024

(1) 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 July 1, 1998 and on or before December 31, 2014.

(2) The 2012 IAR 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, for valuation dates on or after September 30, 2015.

(3) The 1983 Table "a" without projection is to be used for determining the minimum standard of valuation for an individual annuity or pure endowment contract issued on or after July 1, 1998, solely when the contract is based on life contingencies and is issued to fund periodic benefits arising from:

(a) Settlements of various forms of claims pertaining to court settlements or out of court settlements for tort actions;

(b) Settlements involving similar actions such as workers compensation claims; or

I Settlements of long term disability claims where a temporary or life annuity has been used in lieu of continuing disability payments.

Rulemaking Authority 624.308, 625.121(5)(k) FS. Law Implemented 624.307(1), 625.121 FS.

New 12-23-98, Formerly 4-162.104, Amended 7-28-15.

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