PURPOSE: This rule recognizes new mortality tables, 1983 Table A and 1983 Group Annuity Mortality Table, for use in determining the minimum standard of valuation for annuity and pure endowment contracts.

1. (1) Definitions.

   1. (A) As used in this rule “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.
   2. (B) As used in this rule “1983 Group Annuity Mortality (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.
   3. (C) As used in this rule “1994 Group Annuity Reserving (GAR) Table” means that mortality table developed by the Society of Actuaries Group Annuity Valuation Table Task Force. The 1994 GAR Table is included in the report on pages 865-919 of Volume XLVII of the “Transactions of the Society of Actuaries (1995).”
   4. (D) As used in this rule “Annuity 2000 Mortality Table” means that mortality table developed by the Society of Actuaries Committee on Life Insurance Research. The Annuity 2000 Mortality Table is included in the report on pages 211-249 of Volume XLVII of the “Transactions of the Society of Actuaries (1995).”
   5. (E) As used in this rule “period table” means a table of mortality rates applicable to a given calendar year (the period).
   6. (F) As used in this rule “generational mortality table” means a mortality table containing a set of mortality rates that decrease for a given age from one (1) year to the next based on a combination of a period table and a projection scale containing rates of mortality improvement.
   7. (G) As used in this rule “2012 IAR Table” means that generational mortality table developed by the Society of Actuaries Committee on Life Insurance Research and containing 2012+n, derived from a combination rates, qx of the 2012 IAM Period Table and Projection Scale G2, using the methodology stated in section (3).
   8. (H) As used in this rule “2012 Individual Annuity Mortality Period Life (2012 IAM Period) Table,” included herein, means the period table containing loaded mortality rates for calendar year 2012. This table contains 2012, developed by the Society of rates, qx Actuaries Committee on Life Insurance Research and is shown in Appendices I and II.
   9. (I) As used in this rule “Projection Scale G2 (Scale G2),” included herein, 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 Committee on Life Insurance Research and is shown in Appendices III and IV.

2. (2) Individual Annuity or Pure Endowment Contracts.

   1. (A) Except as provided in subsections (B) and (C) of this section, the 1983 Table A is recognized and approved as an individual annuity mortality table for valuation and, at the option of the company, may be used for purposes of determining the minimum standard of valuation for any individual annuity or pure endowment contract issued on or after September 28, 1979.
   2. (B) Except as provided in subsection (C) of this section, either the 1983 Table A or the Annuity 2000 Mortality Table is to be used for determining the minimum standard of valuation for any individual annuity or pure endowment contract issued on or after January 1, 1987.
   3. (C) Except as provided in subsections (D) and (E) of this section, the Annuity 2000 Mortality Table shall be used for determining the minimum standard of valuation for any individual annuity or pure endowment contract issued on or after January 1, 2001.
   4. (D) Except as provided in subsection (E) of this section, the 2012 IAR Table shall be used for determining the minimum standard of valuation for any individual annuity or pure endowment contract issued on or after January 1, 2016.

   5. (E) The 1983 Table A without projection is to be used for determining the minimum standards of valuation for an individual annuity or pure endowment contract issued on or after January 1, 2001, solely when the contract is based on life contingencies and is issued to fund periodic benefits arising from—

      1. 1. Settlements of various forms of

claims pertaining to court settlements or out of court settlements from tort actions;

1. 2. Settlements involving similar actions

such as workers’ compensation claims; or

1. 3. Settlements of long-term disability

claims where a temporary or life annuity has been used in lieu of continuing disability payments. (3) Application of the 2012 IAR Table.

In using the 2012 IAR Table, the mortality rate for a person aged x in year (2012+n) is calculated as follows:

qx 2012+n = qx 2012(1 – G2x)n

where the qx 2012 and G2x are as specified in the 2012 IAM Period Table and Scale G2, Appendices I-IV.

2012+n shall be rounded to three

The result qx 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, it is 2012+n incorrect to use an already rounded qx 2012+n+1. to calculate qx (4) Group Annuity or Pure Endowment Contracts.

1. (A) Except as provided in subsection (B) and (C) of this section, 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 any annuity or pure endowment purchased on or after September 28, 1979, under a group annuity or pure endowment contract.
2. (B) Except as provided in subsection (C) of this section, either the 1983 GAM Table or the 1994 GAR Table is to 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.
3. (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 January 1 of the year following the effective date of this rule under a group annuity or pure endowment contract.

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

   qx 1994+n = qx 1994(1-AAx)n

where the qx 1994 and AAx are as specified in the 1994 GAR Table.

1. (6) Separability. If any provision of this rule or the application of this rule to any person or circumstance is for any reason held to be invalid, the remainder of the rule and the application of that provision to other persons or circumstances shall not be affected by it. AGE 1000 * qx 0 1.621 1 0.405 2 0.259 3 0.179 4 0.137 5 0.125 6 0.117 7 0.110 8 0.095 9 0.088 10 0.085 11 0.086 12 0.094 13 0.108 14 0.131 15 0.156 16 0.179 17 0.198 18 0.211 19 0.221 20 0.228 21 0.234 22 0.240 23 0.245 24 0.247 25 0.250 26 0.256 27 0.261 28 0.270 29 0.281 APPENDIX I

   2012 IAM Period Table

   Female, Age Nearest Birthday

AGE AGE 1000 * qx 30 0.300 31 0.321 32 0.338 33 0.351 34 0.365 35 0.381 36 0.402 37 0.429 38 0.463 39 0.504 40 0.552 41 0.600 42 0.650 43 0.697 44 0.740 45 0.780 46 0.825 47 0.885 48 0.964 49 1.051 50 1.161 51 1.308 52 1.460 53 1.613 54 1.774 55 1.950 56 2.154 57 2.399 58 2.700 59 3.054 1000 * qx 60 3.460 61 3.916 62 4.409 63 4.933 64 5.507 65 6.146 66 6.551 67 7.039 68 7.628 69 8.311 70 9.074 71 9.910 72 10.827 73 11.839 74 12.974 75 14.282 76 15.799 77 17.550 78 19.582 79 21.970 80 24.821 81 28.351 82 32.509 83 37.329 84 42.830 85 48.997 86 55.774 87 63.140 88 71.066 89 79.502 20 CSR 400-1

AGE 2012 1000 * qx 90 88.377 91 97.491 92 107.269 93 118.201 94 130.969 95 146.449 96 163.908 97 179.695 98 196.151 99 213.150 100 230.722 101 251.505 102 273.007 103 295.086 104 317.591 105 340.362 106 362.371 107 384.113 108 400.000 109 400.000 110 400.000 111 400.000 112 400.000 113 400.000 114 400.000 115 400.000 116 400.000 117 400.000 118 400.000 119 400.000 120 1000.000 AND INSURANCE

AGE 1000 * qx 0 1.605 1 0.401 2 0.275 3 0.229 4 0.174 5 0.168 6 0.165 7 0.159 8 0.143 9 0.129 10 0.113 11 0.111 12 0.132 13 0.169 14 0.213 15 0.254 16 0.293 17 0.328 18 0.359 19 0.387 20 0.414 21 0.443 22 0.473 23 0.513 24 0.554 25 0.602 26 0.655 27 0.688 28 0.710 29 0.727 APPENDIX II

2012 IAM Period Table

Male, Age Nearest Birthday

AGE AGE 1000 * qx 30 0.741 31 0.751 32 0.754 33 0.756 34 0.756 35 0.756 36 0.756 37 0.756 38 0.756 39 0.800 40 0.859 41 0.926 42 0.999 43 1.069 44 1.142 45 1.219 46 1.318 47 1.454 48 1.627 49 1.829 50 2.057 51 2.302 52 2.545 53 2.779 54 3.011 55 3.254 56 3.529 57 3.845 58 4.213 59 4.631 1000 * qx 60 5.096 61 5.614 62 6.169 63 6.759 64 7.398 65 8.106 66 8.548 67 9.076 68 9.708 69 10.463 70 11.357 71 12.418 72 13.675 73 15.150 74 16.860 75 18.815 76 21.031 77 23.540 78 26.375 79 29.572 80 33.234 81 37.533 82 42.261 83 47.441 84 53.233 85 59.855 86 67.514 87 76.340 88 86.388 89 97.634 AGE 2012 1000 * qx 90 109.993 91 123.119 92 137.168 93 152.171 94 168.194 95 185.260 96 197.322 97 214.751 98 232.507 99 250.397 100 268.607 101 290.016 102 311.849 103 333.962 104 356.207 105 380.000 106 400.000 107 400.000 108 400.000 109 400.000 110 400.000 111 400.000 112 400.000 113 400.000 114 400.000 115 400.000 116 400.000 117 400.000 118 400.000 119 400.000 120 1000.000 AGE G2x 0 0.010 1 0.010 2 0.010 3 0.010 4 0.010 5 0.010 6 0.010 7 0.010 8 0.010 9 0.010 10 0.010 11 0.010 12 0.010 13 0.010 14 0.010 15 0.010 16 0.010 17 0.010 18 0.010 19 0.010 20 0.010 21 0.010 22 0.010 23 0.010 24 0.010 25 0.010 26 0.010 27 0.010 28 0.010 29 0.010 APPENDIX III

Projection Scale G2

Female, Age Nearest Birthday

AGE G2x 30 0.010 31 0.010 32 0.010 33 0.010 34 0.010 35 0.010 36 0.010 37 0.010 38 0.010 39 0.010 40 0.010 41 0.010 42 0.010 43 0.010 44 0.010 45 0.010 46 0.010 47 0.010 48 0.010 49 0.010 50 0.010 51 0.010 52 0.011 53 0.011 54 0.011 55 0.012 56 0.012 57 0.012 58 0.012 59 0.013 AGE G2x 60 0.013 61 0.013 62 0.013 63 0.013 64 0.013 65 0.013 66 0.013 67 0.013 68 0.013 69 0.013 70 0.013 71 0.013 72 0.013 73 0.013 74 0.013 75 0.013 76 0.013 77 0.013 78 0.013 79 0.013 80 0.013 81 0.012 82 0.012 83 0.011 84 0.010 85 0.010 86 0.009 87 0.008 88 0.007 89 0.007 20 CSR 400-1

AGE G2x 90 0.006 91 0.006 92 0.005 93 0.005 94 0.004 95 0.004 96 0.004 97 0.003 98 0.003 99 0.002 100 0.002 101 0.002 102 0.001 103 0.001 104 0.000 105 0.000 106 0.000 107 0.000 108 0.000 109 0.000 110 0.000 111 0.000 112 0.000 113 0.000 114 0.000 115 0.000 116 0.000 117 0.000 118 0.000 119 0.000 120 0.000 AND INSURANCE

AGE G2x 0 0.010 1 0.010 2 0.010 3 0.010 4 0.010 5 0.010 6 0.010 7 0.010 8 0.010 9 0.010 10 0.010 11 0.010 12 0.010 13 0.010 14 0.010 15 0.010 16 0.010 17 0.010 18 0.010 19 0.010 20 0.010 21 0.010 22 0.010 23 0.010 24 0.010 25 0.010 26 0.010 27 0.010 28 0.010 29 0.010 APPENDIX IV

Projection Scale G2

Male, Age Nearest Birthday

AGE G2x 30 0.010 31 0.010 32 0.010 33 0.010 34 0.010 35 0.010 36 0.010 37 0.010 38 0.010 39 0.010 40 0.010 41 0.010 42 0.010 43 0.010 44 0.010 45 0.010 46 0.010 47 0.010 48 0.010 49 0.010 50 0.010 51 0.011 52 0.011 53 0.012 54 0.012 55 0.013 56 0.013 57 0.014 58 0.014 59 0.015 AGE G2x 60 0.015 61 0.015 62 0.015 63 0.015 64 0.015 65 0.015 66 0.015 67 0.015 68 0.015 69 0.015 70 0.015 71 0.015 72 0.015 73 0.015 74 0.015 75 0.015 76 0.015 77 0.015 78 0.015 79 0.015 80 0.015 81 0.014 82 0.013 83 0.013 84 0.012 85 0.011 86 0.010 87 0.009 88 0.009 89 0.008 AGE G2x 90 0.007 91 0.007 92 0.006 93 0.005 94 0.005 95 0.004 96 0.004 97 0.003 98 0.003 99 0.002 100 0.002 101 0.002 102 0.001 103 0.001 104 0.000 105 0.000 106 0.000 107 0.000 108 0.000 109 0.000 110 0.000 111 0.000 112 0.000 113 0.000 114 0.000 115 0.000 116 0.000 117 0.000 118 0.000 119 0.000 120 0.000 AUTHORITY: section 374.045, RSMo Supp. 2013, and section 376.380, RSMo 2000.* This rule was previously filed as 4 CSR 190- 13.270. Original rule filed April 2, 1986, effective Aug. 25, 1986. Amended: Filed June 23, 2000, effective Dec. 30, 2000. Amended: Filed Jan. 15, 2015, effective July 30, 2015.

*Original authority 374.045, RSMo 1967, amended 1993, 1995, 2008; and 376.380, RSMo 1939, amended 1943, 1947, 1959, 1961, 1965, 1971, 1975, 1979, 1982, 1993.