West Virginia Code of State Rules
Agency 114 - Insurance Commission
Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER
Series 114-45 - Recognizing Annuity Mortality Tables for Use in Determining Reserve Liabilities for Annuities
Section 114-45-5 - Application of the 2012 IAR Mortality Table
Universal Citation: 114 WV Code of State Rules 114-45-5
Current through Register Vol. XLI, No. 38, September 20, 2024
5.1. In using the 2012 IAR Mortality Table, the mortality rate for a person age x in year (2012 + n) is calculated as follows:
5.2. 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.
5.3. For example, for a male age 30, qx2012 = 0.741.
5.4. A method leading to incorrect rounding would be to calculate qx2014 as qx2013 * (1 -0.010), or 0.734 * 0.99 = 0.727.
5.5. It is incorrect to use the already rounded qx2013 to calculate qx2014.
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