S.C. Code Regs. § 69-37.5 - Application of the 2012 IAR Mortality Table

In using the 2012 IAR Mortality Table, the mortality rate for a person age x in year (2012 + n) is calculated as follows:

q_x²⁰¹²⁺ⁿ = q_x²⁰¹²(1- G2_x) ⁿ

The resulting q_x ²⁰¹²⁺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, q_x²⁰¹²= 0.741.

q_x ²⁰¹³= 0.741 * (1 - 0.010) ^ 1 = 0.73359, which is rounded to 0.734.

q_x ²⁰¹⁴= 0.741 * (1 - 0.010) ^ 2 = 0.7262541, which is rounded to 0.726.

A method leading to incorrect rounding would be to calculate q_x ²⁰¹⁴ as q_x ²⁰¹³ * (1 - 0.010), or 0.734 * 0.99 = 0.727.

It is incorrect to use the already rounded q_x ²⁰¹³ to calculate q_x ²⁰¹⁴ .

Notes

S.C. Code Regs. § 69-37.5

Amended by State Register Volume 38, Issue No. 6, eff 6/27/2014.