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Florida Administrative Code (Last Updated: June 27, 2024) |
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69. Department of Financial Services |
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69O. OIR – Insurance Regulation |
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69O-162. Annuity Contracts |
1As used in this rule chapter, the following terms have the following meaning:
14(1) “1994 GAR Table” – means that mortality table developed by the Society of Actuaries Group Annuity Valuation Table Task Force.
35(2) “Annuity 2000 Mortality Table” means that mortality table developed by the Society of Actuaries Committee on Life Insurance Research.
55(3) “Period table” means a table of mortality rates applicable to a given calendar year (the Period).
72(4 ) “Generational mortality table” means a mortality table containing a set of mortality rates that decrease for a given age from one year to the next based on a combination of a Period table and a projection scale containing rates of mortality improvement.
116(5) “2012 IAR Table”or ”2012 IAR Mortality Table” means that Generational mortality table developed by the Society of Actuaries Committee on Life Insurance Research and containing rates, q144x1452012+n, 146derived from a combination of the 2012 IAM Period Table and Projection Scale G2, using the methodology stated in subsection 16669O-162.106(2), 167F.A.C.
168(6) 169“2012 Individual Annuity Mortality Life (2012 IAM Period) Table” means the Period table 182containing loaded mortality rates for calendar year 2012. This table contains rates, q195x1962012, 197developed by the Society of Actuaries Committee on Life Insurance Research.
208(6) “Projection Scale G2 (Scale G2)” is a table of annual rates, G2221x, 222of mortality improvement by age for projecting future mortality rates beyond calendar year 2012. This table was developed by the Society of Actuaries Committee on Life Insurance Research.
250Rulemaking Authority 252624.308, 253625.121(5)(k) FS. 255Law Implemented 257624.307(1), 258625.121 FS. 260History–New 12-23-98, Formerly 4-162.103, 7-28-15.
