Code of Maine Rules
02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
031 - BUREAU OF INSURANCE
Chapter 340 - MORTALITY TABLES FOR DETERMINING MINIMUM RESERVES AND NONFORFEITURE BENEFITS
Article V - Annuity Mortality Tables
Section 031-340-V-5 - Group annuity or pure endowment contracts

Universal Citation: 02 ME Code Rules ยง 031-340-V-5

Current through 2024-38, September 18, 2024

A. Except as provided in Subsections B and C of this Section, the 1983 GAM Table, the 1983 Table "a" and the 1994 GAR Table are recognized and approved as group annuity mortality tables for valuation and, at the option of the company, any one of these tables may be used for purposes of valuation for any annuity or pure endowment purchased on or after January 1, 1979 under a group annuity or pure endowment contract.

B. Except as provided in Subsection C of this Section, either the 1983 GAM Table or the 1994 GAR Table shall be used for determining the minimum standard of valuation for any annuity or pure endowment purchased on or after January 1, 1986 under a group annuity or pure endowment contract.

C. The 1994 GAR Table shall be used for determining the minimum standard of valuation for any annuity or pure endowment purchased on or after January 1, 2000 under a group annuity or pure endowment contract.

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