Statutes, codes, and regulations
Connecticut Administrative Code
Title 38a - Insurance DepartmentConnecticut Standard Valuation Law Actuarial Opinion and Memorandum
NAIC Model Regulation for Recognizing New Annuity Mortality Tables For Use In Determining Reserve Liabilities for Annuities
Section 38a-78-22 - Definitions

Conn. Agencies Regs. § 38a-78-22

Download
PDF
Current through December 27, 2024
Section 38a-78-22 - Definitions

As used in Sections 38a-78-23 and 38a-78-24 of the Regulations of Connecticut State Agencies:

(a) "1983 Table 'a' " means that mortality table developed by the Society of Actuaries Committee to Recommend a New Mortality Basis for Individual Annuity Valuation and adopted as a recognized mortality table for annuities in June 1982 by the National Association of Insurance Commissioners.
(b) "1983 GAM Table" means that mortality table developed by the Society of Actuaries Committee on Annuities and adopted as a recognized mortality table for annuities in December 1983 by the National Association of Insurance Commissioners.
(c) "1994 GAR Table" means that mortality table developed by the Society of Actuaries Group Annuity Valuation Table Task Force and adopted as a recognized mortality table for annuities in December 1996 by the National Association of Insurance Commissioners.
(d) "Annuity 2000 Mortality Table" means that mortality table developed by the Society of Actuaries Committee on Life Insurance Research and adopted as a recognized mortality table for annuities in December 1996 by the National Association of Insurance Commissioners.
(e) "2012 IAR Table" means that generational mortality table developed by the Society of Actuaries Committee on Life Insurance Research and containing rates, qx2012+n , derived from a combination of the 2012 IAM Period Table and Projection Scale G2, using the methodology stated in section 38a-78-23 a of the Regulations of Connecticut State Agencies.
(f) "2012 Individual Annuity Mortality Period Life (2012 IAM Period) Table" means the Period Table containing loaded mortality rates for calendar year 2012 and containing rates, qx2012 , developed by the Society of Actuaries Committee on Life Insurance Research, as is shown in Appendices 1and 2 of Sections 38a-78-1 to 38a-78-44, inclusive, of the Regulations of Connecticut State Agencies.
(g) "Generational mortality table" means a mortality table containing a set of mortality rates that decrease for a given age from one year to the next based on a combination of a Period Table and a projection scale containing rates or mortality improvement.
(h)"Period Table" means a table of mortality rates applicable to a given calendar year.
(i) "Period" means the given calendar year.
(j) "Projection Scale G2 (Scale G2)" means a table of annual rates, G2x, of mortality improvement by age for projecting future mortality rates beyond calendar year 2012 as developed by the Society of Actuaries Committee on Life Insurance Research as shown in Appendices 3 and 4 of Sections 38a-78-1 to 38a-78-44, inclusive, of the Regulations of Connecticut State Agencies.

Conn. Agencies Regs. § 38a-78-22

Effective September 25, 1992; Amended December 2, 1998; Amended January 24, 2014