Insurance Dept.

General Agency, Board or Commission Rules

Effective Date: 10/18/1985 to 12/31/1996

Rule Type: Superceded Rules & Regulations

Reference Number: 044.0002.17.10181985

MORTALITY TABLES

Effective October 18, 1985

(Section) 1 Authority This rule is promulgated by the Commissioner of Insurance pursuant to W.S. 26-6-206 and W.S. 26-2-110 of the Wyoming Insurance Code and the Wyoming Administrative Procedure Act.

(Section) 2 Purpose The purpose of this rule is to recognize new mortality tables, 1983 Table "a" and 1983 GAM Table, for use in determining the minimum standard of valuation for annuity and pure endowment contracts.

(Section) 3 Definitions

(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.

(b) As used in this rule "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.

(Section) 4 Individual Annuity or Pure Endowment Contracts

(a) 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 May 20, 1981.

(b) The 1983 Table "a" is to be used for determining the minimum standard of valuation for any individual annuity or pure endowment contract issued on or after the effective date of this regulation.

(Section) 5 Group Annuity or Pure Endowment Contracts

(a) The 1983 GAM Table and the 1983 Table "a" are recognized and approved as group annuity mortality tables for valuation and, at the option of the company, either table may be used for purposes of valuation for any annuity or pure endowment purchased on or after May 20, 1981 under a group annuity or pure endowment contract.

(b) The 1983 GAM Table is to be used for determining the minimum standard of valuation for any annuity or pure endowment purchased on or after the effective date of this regulation under a group annuity or pure endowment contract.

(Section) 6 Severability If any provision of this rule or the application thereof to any person or circumstances is for any reason held to be invalid, the remainder of the regulation and the application of such provision to other persons or circumstances shall not be affected thereby.

(Section) 7 Effective Date

This regulation shall become effective immediately upon filing with the Secretary of State.