Louisiana Administrative Code
Title 37 - INSURANCE Part
Part XI - Rules
Chapter 21 - Rule Number 8-A New Annuity Mortality Table for Use in Determining Reserve Liabilities for Annuities
Section XI-2106 - Application of the 2012 IAR Mortality Table
Current through Register Vol. 50, No. 9, September 20, 2024
A. In using the 2012 IAR mortality table, the mortality rate for a person age x in year (2012 + n) is calculated as follows:
The resulting qx 2012+n shall be rounded to three decimal places per 1,000, e.g., 0.741 deaths per 1,000. Also, the rounding shall occur according to the formula above, starting at the 2012 period table rate. For example, for a male age 30, qx2012= 0.741. qx 2013= 0.741 * (1 0.010) ^ 1 = 0.73359, which is rounded to 0.734. qx 2014= 0.741 * (1 0.010) ^ 2 = 0.7262541, which is rounded to 0.726. A method leading to incorrect rounding would be to calculate qx 2014 as qx 2013 * (1 0.010), or 0.734 * 0.99 = 0.727. It is incorrect to use the already rounded qx 2013 to calculate qx 2014.
AUTHORITY NOTE: Promulgated in accordance with R.S. 22:753.
