MODEL REGULATION FOR RECOGNIZING A NEW ANNUITY MORTALITY TABLE FOR USE IN DETERMINING RESERVE LIABILITIES FOR ANNUITIES AS MODIFIED AND ADOPTED BY REFERENCE BY

K.A.R. 40-2018

Section 1. Authority

This rule is promulgated by the Commissioner of Insurance pursuant to Section [insert applicable reference to the Standard Valuation Law] of the [insert state] Insurance Statute.

Section 2. Purpose

The purpose of this rule is to recognize the following 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. [See 1982 NAIC PROCEEDINGS, Vol. II, page 454.]

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. [See 1984 NAIC PROCEEDINGS, Vol. I, pages 414 to 415.]

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 July 1, 1982.

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 January 1, 1986.

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 July 1, 1982 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 January 1, 1986 under a group annuity or pure endowment contract.

Section 7. Separability

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 such provision to other persons or circumstances shall not be affected thereby.

Section 8. Effective Date

The effective date of this rule is _____.

TABLE 16
1983 Table a – 1,000qx
Age	Males	Females	Age	Males	Females	Age	Males	Females
5	0.377	0.194	45	2.399	1.122	85	90.987	65.518
6	0.350	0.160	46	2.693	1.231	86	99.122	73.493
7	0.333	0.134	47	3.009	1.356	87	107.577	82.318
8	0.352	0.134	48	3.343	1.499	88	116.316	92.017
9	0.368	0.136	49	3.694	1.657	89	125.394	102.491
10	0.382	0.141	50	4.057	1.830	90	134.887	113.605
11	0.394	0.147	51	4.431	2.016	91	144.873	125.227
12	0.405	0.155	52	4.812	2.215	92	155.429	137.222
13	0.415	0.165	53	5.198	2.426	93	166.629	146.462
14	1.425	0.175	54	5.591	2.650	94	178.537	161.834
15	0.435	0.188	55	5.994	2.891	95	191.214	174.228
16	0.446	0.201	56	6.409	3.151	96	204.721	186.535
17	0.458	0.214	57	6.839	3.432	97	219.120	198.646
18	0.472	0.229	58	7.290	3.739	98	234.735	221.102
19	0.488	0.244	59	7.782	4.081	99	251.889	224.445
20	0.505	0.260	60	8.338	4.467	100	270.906	239.215
21	0.525	0.276	61	8.983	4.908	101	292.111	255.953
22	0.546	0.293	62	9.740	5.413	102	315.826	275.201
23	0.570	0.311	63	10.630	5.990	103	342.377	297.500
24	0.596	0.330	64	11.664	6.633	104	372.086	323.390
25	0.622	0.349	65	12.851	7.336	105	405.278	353.414
26	0.650	0.368	66	14.199	8.090	106	442.277	388.111
27	0.677	0.387	67	15.717	8.888	107	483.406	428.023
28	0.704	0.405	68	17.414	9.731	108	528.989	473.692
29	0.731	0.423	69	19.296	10.653	109	579.351	525.658
30	0.759	0.441	70	21.371	11.697	110	634.814	584.462
31	0.786	0.460	71	23.647	12.905	111	695.704	650.646
32	0.814	0.479	72	26.131	14.319	112	762.343	724.750
33	0.843	0.499	73	28.835	15.980	113	835.056	807.316
34	0.876	0.521	74	31.794	17.909	114	914.167	898.885
35	0.917	0.545	75	35.046	20.127	115	1,000.000	1,000.000
36	0.968	0.574	76	38.631	22.654
37	1.032	0.607	77	42.587	25.509
38	1.114	0.646	78	46.951	28.717
39	1.206	0.691	79	51.755	32.328
40	1.341	0.742	80	57.026	36.395
41	1.492	0.801	81	62.791	40.975
42	1.673	0.867	82	69.081	46.121
43	1.886	0.942	83	75.908	51.889
44	2.129	1.026	84	83.230	58.336

TABLE 18-A
1983 Group Annuity Mortality Table
(Males)
Age	qx	Age	qx	Age	qx
5	0.000342	40	0.001238	75	0.044597
6	0.000318	41	0.001370	76	0.049388
7	0.000302	42	0.001527	77	0.054758
8	0.000294	43	0.001715	78	0.060678
9	0.000292	44	0.001932	79	0.067125
10	0.000293	45	0.002183	80	0.074070
11	0.000298	46	0.002471	81	0.081484
12	0.000304	47	0.002790	82	0.089320
13	0.000310	48	0.003138	83	0.097525
14	0.000317	49	0.003513	84	0.106047
15	0.000325	50	0.003909	85	0.114836
16	0.000333	51	0.004324	86	0.124170
17	0.000343	52	0.004755	87	0.133870
18	0.000353	53	0.005200	88	0.144073
19	0.000365	54	0.005660	89	0.154859
20	0.000377	55	0.006131	90	0.166307
21	0.000392	56	0.006618	91	0.178214
22	0.000408	57	0.007139	92	0.190460
23	0.000424	58	0.007719	93	0.203007
24	0.000444	59	0.008384	94	0.217904
25	0.000464	60	0.009158	95	0.234086
26	0.000488	61	0.010064	96	0.248436
27	0.000513	62	0.011133	97	0.263954
28	0.000542	63	0.012391	98	0.280803
29	0.000572	64	0.013868	99	0.299154
30	0.000607	65	0.015592	100	0.319185
31	0.000645	66	0.017579	101	0.341086
32	0.000687	67	0.019804	102	0.365052
33	0.000734	68	0.022229	103	0.393102
34	0.000785	69	0.024817	104	0.427255
35	0.000860	70	0.027530	105	0.469531
36	0.000907	71	0.030354	106	0.521945
37	0.000966	72	0.033370	107	0.586518
38	0.001039	73	0.036680	108	0.665268
39	0.001128	74	0.040388	109	0.760215
					----

TABLE 18-B
1983 Group Annuity Mortality Table
(Females)
Age	qx	Age	qx	Age	qx
5	0.000171	40	0.000665	75	0.023992
6	0.000140	41	0.000716	76	0.027185
7	0.000118	42	0.000775	77	0.030672
8	0.000104	43	0.000842	78	0.034459
9	0.000097	44	0.000919	79	0.038549
10	0.000096	45	0.001010	80	0.042945
11	0.000104	46	0.001117	81	0.017655
12	0.000113	47	0.001237	82	0.052691
13	0.000122	48	0.001366	83	0.058071
14	0.000131	49	0.001505	84	0.063807
15	0.000140	50	0.001647	85	0.069918
16	0.000149	51	0.001793	86	0.076570
17	0.000159	52	0.001949	87	0.083870
18	0.000168	53	0.002120	88	0.091935
19	0.000179	54	0.002315	89	0.101354
20	0.000189	55	0.002541	90	0.111750
21	0.000201	56	0.002803	91	0.123076
22	0.000212	57	0.003103	92	0.135630
23	0.000225	58	0.003443	93	0.149577
24	0.000239	59	0.003821	94	0.165103
25	0.000253	60	0.004241	95	0.182419
26	0.000268	61	0.004703	96	0.201757
27	0.000284	62	0.005210	97	0.222044
28	0.000302	63	0.005769	98	0.243899
29	0.000320	64	0.006386	99	0.268185
30	0.000342	65	0.007064	100	0.295187
31	0.000364	66	0.007817	101	0.325225
32	0.000388	67	0.008681	102	0.358897
33	0.000414	68	0.009702	103	0.395843
34	0.000443	69	0.010922	104	0.438360
35	0.000476	70	0.012385	105	0.487816
36	0.000502	71	0.014128	106	0.545886
37	0.000536	72	0.016160	107	0.614309
38	0.000573	73	0.018481	108	0.694855
39	0.000617	74	0.021092	109	1.789474
				110	1.000000