Rhode Island Code of Regulations
Title 230 - Department of Business Regulation
Chapter 20 - Insurance
Subchapter 25 - LIFE AND ANNUITIES
Part 9 - Annuity Mortality Tables (Formerly Insurance Regulation 94) (230-RICR-20-25-9)
Section 230-RICR-20-25-9.6 - Application of the 2012 IAR Mortality Table

Universal Citation: 230 RI Code of Rules 20 25 9.6

Current through September 18, 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:

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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.
1. 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.

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