North Dakota Administrative Code
Title 45 - Insurance, Commissioner of
Article 45-04 - Life Insurance
Chapter 45-04-08 - Annuity Tables
Section 45-04-08-02.1 - Application of the 2012 IAR Mortality Table

Universal Citation: ND Admin Code ยง 45-04-08-02.1
Current through Supplement No. 394, October, 2024

In using the 2012 IAR Mortality Table, the mortality rate for a person age x in year (2012 + n) is calculated as follows:

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The resulting qx2012+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 = 07.41.

qx2013 = Q741 * (1 - 0.010) ^ 1 = 0.73358, which is rounded to 0.734.

qx2014 = 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 = 07.27. It is incorrect to use the already rounded qx 2013 to calculate qx 2014.

General Authority: NDCC 28-32-02

Law Implemented: NDCC 26.1-35

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