Section 760 IAC 1-35-5 - Group annuity or pure endowment contracts Authority: IC 27-1-3-7
Affected: IC 27-1-12-10
Sec. 5.
(a) Except as provided in subsections (b) and (c), the 1983 GAM Table, the 1983 Table "a", and the 1994 GAR Table are recognized and approved as group annuity mortality tables for valuation and, at the option of the company, any one (1) of these tables may be used for purposes of valuation for an annuity or pure endowment purchased on or after August 31, 1979, under a group annuity or pure endowment contract.(b) Except as provided in subsection (c), the 1983 GAM Table or the 1994 GAR Table shall be used for determining the minimum standard of valuation for any annuity or pure endowment purchased on or after January 1, 1987, under a group annuity or pure endowment contract.(c) The 1994 GAR Table shall be used for determining the minimum standard of valuation for any annuity or pure endowment purchased on or after December 31, 1999, under a group annuity or pure endowment contract.Department of Insurance; 760 IAC 1-35-5; filed Oct 16, 1985, 2:18 p.m.: 9 IR 517; filed Dec 1, 1999, 3:31 p.m.: 23 IR 811, eff Dec 31, 1999; readopted filed Sep 14, 2001, 12:22 p.m.: 25 IR 531; readopted filed Nov 27, 2007, 4:01 p.m.: 20071226-IR-760070717RFA; readopted filed November 26, 2013, 3:43 p.m.: 20131225-IR-760130479RFA