210 Neb. Admin. Code, ch. 42, § 006

Current through September 17, 2024

Section 210-42-006 - Group annuity or pure endowment contracts

In using the 1994 GAR Table, the mortality rate for a person age x in year (1994 + n) is calculated as follows:

q_x¹⁹⁹⁴⁺ⁿ = q_x¹⁹⁹⁴ (1 _AAX)ⁿ

where the q_x¹⁹⁹⁴ and AA _xs are as specified in the 1994 GAR Table.

006.01 Except as provided in subsections 006.02 and 006.03, 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 of these tables may be used for purposes of valuation for an annuity or pure endowment purchased on or after August 24, 1979 under a group annuity or pure endowment contract.

006.02 Except as provided in subsection 006.03, either 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.

006.03 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, 1999 under a group annuity or pure endowment contract.

210 Neb. Admin. Code, ch. 42, § 006