The purpose of this rule is to recognize the following mortality tables for use in determining the minimum standard of valuation for annuity and pure endowment contracts: the 1983 Table "a", the 1983 Group Annuity Mortality (1983 GAM) Table, the Annuity 2000 Mortality Table, the 2012 Individual Annuity Reserving (2012 IAR) Table, and the 1994 Group Annuity Reserving (1994 GAR) Table.
This rule is promulgated pursuant to the authority granted to the Arkansas Insurance Commissioner ("Commissioner") by Ark. Code Ann. §§ 23-84-101, et seq., 23-61-108, and 25-15-201, et seq.
In using the 2012 IAR Mortality Table, the mortality rate for a person age x in year (2012 + n) is calculated as follows:
q2012+n =q2012(1 " G2x)n
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 = 0.741.
qx2013= 0.741 * (1 - 0.010)A 1 = 0.73359, which is rounded to 0.734.
20i4=0J41 * (1 _ 0 qj A2=07262541, which is rounded to 0.726. A method leading to incorrect rounding would be to calculate qx as qx * (1 -0.010), or 0.734 * 0.99 = 0.727. It is incorrect to use the already rounded qx2013 to calculate qx2014.
In using the 1994 GAR Table, the mortality rate for a person age x in year (1994 + n) is calculated as follows:
where the q£994 and AAX are as specified in the 1994 GAR Table.
If any provision of this rule or its application to any person or circumstances is for any reason held to be invalid, the remainder of the regulation and the application of its provisions to other persons or circumstances shall not be affected.
The provisions of this rule shall be effective January 1, 2015, upon statutory filing per Arkansas law.
APPENDIX I
2012 IAM Period Table Female, Age Nearest Birthday
AGE | 1000 . "2012 Hx | AGE | 1000 . n2012 Hx | AGE | 1000 .,,2012 Hx | AGE | 1000 * qf12 |
0 | 1.621 | 30 | 0.300 | 60 | 3.460 | 90 | 88.377 |
1 | 0.405 | 31 | 0.321 | 61 | 3.916 | 91 | 97.491 |
2 | 0.259 | 32 | 0.338 | 62 | 4.409 | 92 | 107.269 |
3 | 0.179 | 33 | 0.351 | 63 | 4.933 | 93 | 118.201 |
4 | 0.137 | 34 | 0.365 | 64 | 5.507 | 94 | 130.969 |
5 | 0.125 | 35 | 0.381 | 65 | 6.146 | 95 | 146.449 |
6 | 0.117 | 36 | 0.402 | 66 | 6.551 | 96 | 163.908 |
7 | 0.110 | 37 | 0.429 | 67 | 7.039 | 97 | 179.695 |
8 | 0.095 | 38 | 0.463 | 68 | 7.628 | 98 | 196.151 |
9 | 0.088 | 39 | 0.504 | 69 | 8.311 | 99 | 213.150 |
10 | 0.085 | 40 | 0.552 | 70 | 9.074 | 100 | 230.722 |
11 | 0.086 | 41 | 0.600 | 71 | 9.910 | 101 | 251.505 |
12 | 0.094 | 42 | 0.650 | 72 | 10.827 | 102 | 273.007 |
13 | 0.108 | 43 | 0.697 | 73 | 11.839 | 103 | 295.086 |
14 | 0.131 | 44 | 0.740 | 74 | 12.974 | 104 | 317.591 |
15 | 0.156 | 45 | 0.780 | 75 | 14.282 | 105 | 340.362 |
16 | 0.179 | 46 | 0.825 | 76 | 15.799 | 106 | 362.371 |
17 | 0.198 | 47 | 0.885 | 77 | 17.550 | 107 | 384.113 |
18 | 0.211 | 48 | 0.964 | 78 | 19.582 | 108 | 400.000 |
19 | 0.221 | 49 | 1.051 | 79 | 21.970 | 109 | 400.000 |
20 | 0.228 | 50 | 1.161 | 80 | 24.821 | 110 | 400.000 |
21 | 0.234 | 51 | 1.308 | 81 | 28.351 | 111 | 400.000 |
22 | 0.240 | 52 | 1.460 | 82 | 32.509 | 112 | 400.000 |
23 | 0.245 | 53 | 1.613 | 83 | 37.329 | 113 | 400.000 |
24 | 0.247 | 54 | 1.774 | 84 | 42.830 | 114 | 400.000 |
25 | 0.250 | 55 | 1.950 | 85 | 48.997 | 115 | 400.000 |
26 | 0.256 | 56 | 2.154 | 86 | 55.774 | 116 | 400.000 |
27 | 0.261 | 57 | 2.399 | 87 | 63.140 | 117 | 400.000 |
28 | 0.270 | 58 | 2.700 | 88 | 71.066 | 118 | 400.000 |
29 | 0.281 | 59 | 3.054 | 89 | 79.502 | 119 | 400.000 |
APPENDIX II
2012IAM Period Table Male, Age Nearest Birthday
AGE | 1000 . "2012 Hx | AGE | 1000 . n2012 Hx | AGE | 1000 . "2012 Hx | AGE | 1000 . "2012 Hx |
0 | 1.605 | 30 | 0.741 | 60 | 5.096 | 90 | 109.993 |
1 | 0.401 | 31 | 0.751 | 61 | 5.614 | 91 | 123.119 |
2 | 0.275 | 32 | 0.754 | 62 | 6.169 | 92 | 137.168 |
3 | 0.229 | 33 | 0.756 | 63 | 6.759 | 93 | 152.171 |
4 | 0.174 | 34 | 0.756 | 64 | 7.398 | 94 | 168.194 |
5 | 0.168 | 35 | 0.756 | 65 | 8.106 | 95 | 185.260 |
6 | 0.165 | 36 | 0.756 | 66 | 8.548 | 96 | 197.322 |
7 | 0.159 | 37 | 0.756 | 67 | 9.076 | 97 | 214.751 |
8 | 0.143 | 38 | 0.756 | 68 | 9.708 | 98 | 232.507 |
9 | 0.129 | 39 | 0.800 | 69 | 10.463 | 99 | 250.397 |
10 | 0.113 | 40 | 0.859 | 70 | 11.357 | 100 | 268.607 |
11 | 0.111 | 41 | 0.926 | 71 | 12.418 | 101 | 290.016 |
12 | 0.132 | 42 | 0.999 | 72 | 13.675 | 102 | 311.849 |
13 | 0.169 | 43 | 1.069 | 73 | 15.150 | 103 | 333.962 |
14 | 0.213 | 44 | 1.142 | 74 | 16.860 | 104 | 356.207 |
15 | 0.254 | 45 | 1.219 | 75 | 18.815 | 105 | 380.000 |
16 | 0.293 | 46 | 1.318 | 76 | 21.031 | 106 | 400.000 |
17 | 0.328 | 47 | 1.454 | 77 | 23.540 | 107 | 400.000 |
18 | 0.359 | 48 | 1.627 | 78 | 26.375 | 108 | 400.000 |
19 | 0.387 | 49 | 1.829 | 79 | 29.572 | 109 | 400.000 |
20 | 0.414 | 50 | 2.057 | 80 | 33.234 | 110 | 400.000 |
21 | 0.443 | 51 | 2.302 | 81 | 37.533 | 111 | 400.000 |
22 | 0.473 | 52 | 2.545 | 82 | 42.261 | 112 | 400.000 |
23 | 0.513 | 53 | 2.779 | 83 | 47.441 | 113 | 400.000 |
24 | 0.554 | 54 | 3.011 | 84 | 53.233 | 114 | 400.000 |
25 | 0.602 | 55 | 3.254 | 85 | 59.855 | 115 | 400.000 |
26 | 0.655 | 56 | 3.529 | 86 | 67.514 | 116 | 400.000 |
27 | 0.688 | 57 | 3.845 | 87 | 76.340 | 117 | 400.000 |
28 | 0.710 | 58 | 4.213 | 88 | 86.388 | 118 | 400.000 |
29 | 0.727 | 59 | 4.631 | 89 | 97.634 | 119 | 400.000 |
120 | 1000.000 |
APPENDIX III
Projection Scale G2 Female, Age Nearest Birthday
AGE | G2X | AGE | G2X | AGE | G2X | AGE | G2X |
0 | 0.010 | 30 | 0.010 | 60 | 0.013 | 90 | 0.006 |
1 | 0.010 | 31 | 0.010 | 61 | 0.013 | 91 | 0.006 |
2 | 0.010 | 32 | 0.010 | 62 | 0.013 | 92 | 0.005 |
3 | 0.010 | 33 | 0.010 | 63 | 0.013 | 93 | 0.005 |
4 | 0.010 | 34 | 0.010 | 64 | 0.013 | 94 | 0.004 |
5 | 0.010 | 35 | 0.010 | 65 | 0.013 | 95 | 0.004 |
6 | 0.010 | 36 | 0.010 | 66 | 0.013 | 96 | 0.004 |
7 | 0.010 | 37 | 0.010 | 67 | 0.013 | 97 | 0.003 |
8 | 0.010 | 38 | 0.010 | 68 | 0.013 | 98 | 0.003 |
9 | 0.010 | 39 | 0.010 | 69 | 0.013 | 99 | 0.002 |
10 | 0.010 | 40 | 0.010 | 70 | 0.013 | 100 | 0.002 |
11 | 0.010 | 41 | 0.010 | 71 | 0.013 | 101 | 0.002 |
12 | 0.010 | 42 | 0.010 | 72 | 0.013 | 102 | 0.001 |
13 | 0.010 | 43 | 0.010 | 73 | 0.013 | 103 | 0.001 |
14 | 0.010 | 44 | 0.010 | 74 | 0.013 | 104 | 0.000 |
15 | 0.010 | 45 | 0.010 | 75 | 0.013 | 105 | 0.000 |
16 | 0.010 | 46 | 0.010 | 76 | 0.013 | 106 | 0.000 |
17 | 0.010 | 47 | 0.010 | 77 | 0.013 | 107 | 0.000 |
18 | 0.010 | 48 | 0.010 | 78 | 0.013 | 108 | 0.000 |
19 | 0.010 | 49 | 0.010 | 79 | 0.013 | 109 | 0.000 |
20 | 0.010 | 50 | 0.010 | 80 | 0.013 | 110 | 0.000 |
21 | 0.010 | 51 | 0.010 | 81 | 0.012 | 111 | 0.000 |
22 | 0.010 | 52 | 0.011 | 82 | 0.012 | 112 | 0.000 |
23 | 0.010 | 53 | 0.011 | 83 | 0.011 | 113 | 0.000 |
24 | 0.010 | 54 | 0.011 | 84 | 0.010 | 114 | 0.000 |
25 | 0.010 | 55 | 0.012 | 85 | 0.010 | 115 | 0.000 |
26 | 0.010 | 56 | 0.012 | 86 | 0.009 | 116 | 0.000 |
27 | 0.010 | 57 | 0.012 | 87 | 0.008 | 117 | 0.000 |
28 | 0.010 | 58 | 0.012 | 88 | 0.007 | 118 | 0.000 |
29 | 0.010 | 59 | 0.013 | 89 | 0.007 | 119 | 0.000 |
120 | 0.000 |
APPENDIX IV
Projection Scale G2 Male, Age Nearest Birthday
AGE | G2X | AGE | G2X | AGE | G2X | AGE | G2X |
0 | 0.010 | 30 | 0.010 | 60 | 0.015 | 90 | 0.007 |
1 | 0.010 | 31 | 0.010 | 61 | 0.015 | 91 | 0.007 |
2 | 0.010 | 32 | 0.010 | 62 | 0.015 | 92 | 0.006 |
3 | 0.010 | 33 | 0.010 | 63 | 0.015 | 93 | 0.005 |
4 | 0.010 | 34 | 0.010 | 64 | 0.015 | 94 | 0.005 |
5 | 0.010 | 35 | 0.010 | 65 | 0.015 | 95 | 0.004 |
6 | 0.010 | 36 | 0.010 | 66 | 0.015 | 96 | 0.004 |
7 | 0.010 | 37 | 0.010 | 67 | 0.015 | 97 | 0.003 |
8 | 0.010 | 38 | 0.010 | 68 | 0.015 | 98 | 0.003 |
9 | 0.010 | 39 | 0.010 | 69 | 0.015 | 99 | 0.002 |
10 | 0.010 | 40 | 0.010 | 70 | 0.015 | 100 | 0.002 |
11 | 0.010 | 41 | 0.010 | 71 | 0.015 | 101 | 0.002 |
12 | 0.010 | 42 | 0.010 | 72 | 0.015 | 102 | 0.001 |
13 | 0.010 | 43 | 0.010 | 73 | 0.015 | 103 | 0.001 |
14 | 0.010 | 44 | 0.010 | 74 | 0.015 | 104 | 0.000 |
15 | 0.010 | 45 | 0.010 | 75 | 0.015 | 105 | 0.000 |
16 | 0.010 | 46 | 0.010 | 76 | 0.015 | 106 | 0.000 |
17 | 0.010 | 47 | 0.010 | 77 | 0.015 | 107 | 0.000 |
18 | 0.010 | 48 | 0.010 | 78 | 0.015 | 108 | 0.000 |
19 | 0.010 | 49 | 0.010 | 79 | 0.015 | 109 | 0.000 |
20 | 0.010 | 50 | 0.010 | 80 | 0.015 | 110 | 0.000 |
21 | 0.010 | 51 | 0.011 | 81 | 0.014 | 111 | 0.000 |
22 | 0.010 | 52 | 0.011 | 82 | 0.013 | 112 | 0.000 |
23 | 0.010 | 53 | 0.012 | 83 | 0.013 | 113 | 0.000 |
24 | 0.010 | 54 | 0.012 | 84 | 0.012 | 114 | 0.000 |
25 | 0.010 | 55 | 0.013 | 85 | 0.011 | 115 | 0.000 |
26 | 0.010 | 56 | 0.013 | 86 | 0.010 | 116 | 0.000 |
27 | 0.010 | 57 | 0.014 | 87 | 0.009 | 117 | 0.000 |
28 | 0.010 | 58 | 0.014 | 88 | 0.009 | 118 | 0.000 |
29 | 0.010 | 59 | 0.015 | 89 | 0.008 | 119 | 0.000 |
120 | 0.000 |
054.00.14 Ark. Code R. 003