D.C. Mun. Regs. tit. 26, r. 26-A1100

Current through Register 71, No. 45, November 7, 2024

Rule 26-A1100 - INDIVIDUAL ANNUITY OR PURE ENDOWMENT CONTRACTS

1100.1

Except as provided in Subsections 1100.2, 1100.2 a, and 1100.3 of this section, the 1983 Table "a" and the Annuity 2000 Mortality Table shall be the individual annuity mortality tables for valuation and, at the option of the company, either of these tables may be used for purposes of determining the minimum standard of valuation for any individual annuity or pure endowment contract issued on or after October 13, 1978.

1100.2

Except as provided in Subsections 1100.2 a and 1100.3 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, 2000.

1100.2

1100.3

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, 2000, solely when the contract is based on life contingencies and is issued to fund periodic benefits arising from:

(a) Settlements of various forms of claims pertaining to court settlements or out of court settlements from tort actions;

(b) Settlements involving similar actions such as worker's compensation claims; or

(c) Settlements of long term disability claims where a temporary or life annuity has been used in lieu of continuing disability payments.

D.C. Mun. Regs. tit. 26, r. 26-A1100

Final Rulemaking published at 47 DCR 2414 (April 7, 2000); Amended by Final Rulemaking published at 62 DCR 5493 (5/1/2015)