La. Admin. Code tit. 37 § XI-2105
Current through Register Vol. 50, No. 11, November 20, 2024
Section XI-2105 - Individual Annuity for Pure Endowment ContractsA. 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 for purposes of determining the minimum standard of valuation for any individual annuity or pure endowment contract issued on or after September 7, 1979.B. Except as provided in Subsection C of this Section, either the 1983 table "a" or the annuity 2000 mortality table shall be used for determining the minimum standard of valuation for any individual annuity or pure endowment contract issued on or after January 1, 1987.C. Except as provided in Subsection D of this Section, the annuity 2000 mortality table shall be used for determining the minimum standard of valuation for any individual annuity or pure endowment contract issued on or after January 1, 1999.D. Except as provided in Subsection E of this Section, the 2012 IAR mortality table shall be used for determining the minimum standard of valuation for any individual annuity or pure endowment contract issued on or after January 1, 2015.E. The 1983 table "a" without projection is to be used for determining the minimum standards of valuation for an individual annuity or pure endowment contract issued on or after January 1, 1999, 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 worker's compensation claims; or3. settlements of long term disability claims where a temporary or life annuity has been used in lieu of continuing disability payments.La. Admin. Code tit. 37, § XI-2105
Promulgated by the Department of Insurance, Commissioner of Insurance, LR 11:1089 (November 1985), amended LR 24:2281 (December 1998), amended by the Department of Insurance, Office of the Commissioner, LR 40:1703 (September 2014).AUTHORITY NOTE: Promulgated in accordance with R.S. 22:753.