Code of Massachusetts Regulations
211 CMR - DIVISION OF INSURANCE
Title 211 CMR 39.00 - Annuity Mortality Tables for Use in Determining Reserve Liabilities for Annuities
Section 39.03 - Individual Annuity or Pure Endowment Contracts

Universal Citation: 211 MA Code of Regs 211.39

Current through Register 1531, September 27, 2024

(1) Except as provided in 211 CMR 39.03(2) and (3), 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 the purpose of determining the minimum standard of valuation for any individual annuity or pure endowment contract issued on or after June, 1982.

(2) Except as provided in 211 CMR 39.03(3), 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 December 19, 1996.

(3) Except as provided in 211 CMR 39.03(4), 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, 2001.

(4) Except as provided in 211 CMR 39.03(5), 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, 2016.

(5) 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, 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 from tort actions;

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

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

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