Idaho Admin. Code r. 18.07.02.011

Current through September 2, 2024
Section 18.07.02.011 - INDIVIDUAL ANNUITY OR PURE ENDOWMENT CONTRACTS
01.Individual Annuity Mortality Table. Except as stated in Subsections 011.02, the 1983 Table 'a' is approved as an individual annuity mortality table for valuation, and, a company may use it to determine the minimum standard of valuation for any individual annuity or pure endowment contract issued on or after July 1, 1982.
02.Minimum Standard of Valuation. Except as stated in Subsection 011.03, either the 1983 Table 'a' or the Annuity 2000 Mortality Table is used to determine the minimum standard of valuation for an individual annuity or pure endowment contract issued on or after January 1, 1987.
03.The Annuity 2000 Mortality Table. Except as stated in Subsection 011.04, the Annuity 2000 Mortality Table is used to determine the minimum standard of valuation for an individual annuity or pure endowment contract issued on or after March 29, 2012.
04.The 2012 IAR Mortality Table. Except as stated in Subsection 011.05, the 2012 IAR Mortality Table is used to determine the minimum standard of valuation for any individual annuity or pure endowment contract issued on or after January 1, 2015.
05.The 1983 Table 'a.' The 1983 Table 'a' without projection is used to determine the minimum standard of valuation for an individual annuity or pure endowment contract issued on or after March 29, 2012, solely when the contract is based on life contingencies and issued to fund periodic benefits arising from:
a. Settlements of claims pertaining to court settlements or out of court settlements from tort actions;
b. Settlements involving similar actions like workers' compensation claims; or
c. Settlements of long-term disability claims where a temporary or life annuity is used in lieu of continuing disability payments.

Idaho Admin. Code r. 18.07.02.011

Effective April 6, 2023