Texas Administrative Code
Title 28 - INSURANCE
Part 1 - TEXAS DEPARTMENT OF INSURANCE
Chapter 3 - LIFE, ACCIDENT, AND HEALTH INSURANCE AND ANNUITIES
Subchapter P - ANNUITY MORTALITY TABLES
Section 3.1503 - Individual Annuity or Pure Endowment Contracts

Universal Citation: 28 TX Admin Code § 3.1503

Current through Reg. 50, No. 13; March 28, 2025

(a) Except as provided in subsections (b) and (c) of this section, 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 to determine the minimum standard of valuation for any individual annuity or pure endowment contract issued on or after August 29, 1977.

(b) Except as provided in subsection (c) of this section, either the 1983 Table "a" or the Annuity 2000 Mortality Table must be used to determine the minimum standard of valuation for any individual annuity or pure endowment contract delivered or issued for delivery on or after January 1, 1987.

(c) Except as provided in subsection (e) of this section, the Annuity 2000 Mortality Table must be used to determine the minimum standard of valuation for any individual annuity or pure endowment contract issued on or after January 1, 2000.

(d) The 1983 Table "a" without projection must be used to determine the minimum standard of valuation for an individual annuity or pure endowment contract issued on or after January 1, 2000, solely when the contract is based on life contingencies and is issued to fund periodic benefits arising from:

(1) settlements of various forms of claims pertaining to court settlements or out of court settlements from tort actions;

(2) settlements involving similar actions such as workers' compensation claims; or

(3) settlements of long term disability claims where a temporary or life annuity has been used instead of continuing disability payments.

(e) Except as provided in subsection (d) of this section, the 2012 IAR Mortality Table must be used to determine the minimum standard of valuation for any individual annuity or pure endowment contract issued on or after January 1, 2015.

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