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Maine Administrative Code
Department 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATIONDivision 031 - BUREAU OF INSURANCEChapter 340 - MORTALITY TABLES FOR DETERMINING MINIMUM RESERVES AND NONFORFEITURE BENEFITS
Article V - Annuity Mortality Tables
Section 031-340-V-2 - Definitions

02-031-340 Me. Code R. § V-2

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Current through 2024-46, November 13, 2024
Section 031-340-V-2 - Definitions
A. As used in this Article "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. As used in this Article "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. As used in this Article "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. As used in this Article "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. As use dinthisrule,"Periodtable"means a table of mortality rates applicable to a given calendar year (thePeriod).
F. As used in this rule,"Generation almortalitytable"means amortality table contain in gase to f mortality rates that decreasefor a given age from oneyeartothe next base donacombination of a Periodtable and aprojection scale containing rates of mortality improvement.
G. As used in this rule"2012 IARTable "means that Generation almortality 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 4.
H. As use dinthisrule, "2012Individual Annuity Mortality Period Life (2012IAMPeriod) Table" means the Period table containing loaded mortality rates for calendar year 2012. This table contains rates, qx2012, developed by the Society of Actuaries Committee on Life Insurance Research and is Shown in Appendices I - II.
I. Asusedinthisrule, "Projection ScaleG2(ScaleG2)"is a table of annual rates,G2x,of mortality improvement by age for projecting future mortality rates beyond calendar year 2012. This table was developed by the Society of Actuaries Committeeon Life Insurance Research and is shown in AppendicesIII - IV.

02-031 C.M.R. ch. 340, § V-2