28 Tex. Admin. Code § 3.1503 - Individual Annuity or Pure Endowment Contracts
(a) 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 to determine the minimum standard of valuation for any
individual annuity or pure endowment contract issued on or after August 29,
1977.
(b) Except as provided in
subsection (c) of this section, either the 1983 Table "a" or the Annuity 2000
Mortality Table must be used to determine the minimum standard of valuation for
any individual annuity or pure endowment contract delivered or issued for
delivery on or after January 1, 1987.
(c) Except as provided in subsection (e) of
this section, the Annuity 2000 Mortality Table must be used to determine the
minimum standard of valuation for any individual annuity or pure endowment
contract issued on or after January 1, 2000.
(d) The 1983 Table "a" without projection
must be used to determine the minimum standard of valuation for an individual
annuity or pure endowment contract issued on or after January 1, 2000, 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 workers' compensation claims;
or
(3) settlements of long term
disability claims where a temporary or life annuity has been used instead of
continuing disability payments.
(e) Except as provided in subsection (d) of
this section, the 2012 IAR Mortality Table must be used to determine the
minimum standard of valuation for any individual annuity or pure endowment
contract issued on or after January 1, 2015.
Notes
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