02-031-340 Me. Code R. § V-4

Current through 2024-46, November 13, 2024

Section 031-340-V-4 - Application of the 2012 IAR Mortality Table

Inusing the 2012 IARM ortality Table,the mortality rate for a person agex in year (2012+n) is calculated as follows:

q_x²⁰¹²⁺ⁿ =q_x²⁰¹²(1-G2x)ⁿ

The resulting q_x²⁰¹²⁺ⁿ shall be round to three decimal places per 1,000, e.g., 0.741 deaths per 1,000. Also, the rounding shall occur according to the formula above, starting at the 2012 period table rate.

For example, for a male age 30, q_x²⁰¹²=0.741

q_x²⁰¹³=0.741*(1 - 0.010) ^ 1 = 0.73359, which is rounded to 0.734.

q_x²⁰¹⁴=0.741*(1 - 0.010) ^ 2 = 0.7262541, which is rounded to 0.726.

A method leading to incorrect rounding would be to calculate q_x²⁰¹⁴ as q_x²⁰¹³*(1 - 0.010), or 0.734*0.99=0.727.

It is incorrect to use the already rounded q_x²⁰¹³ to calculate q_x²⁰¹⁴.

02-031 C.M.R. ch. 340, § V-4