Florida Regulations 69O-162.102: Purpose
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The purpose of this rule is to recognize the following mortality tables for use in determining the minimum standard of valuation for annuity and pure endowment contracts: the Annuity 2000 Mortality Table, the 1994 Group Annuity Reserving (1994 GAR) Table, and the 2012 IAR Mortality Table.
Rulemaking Authority 624.308, 625.121(5)(k) FS. Law Implemented 624.307(1), 625.121 FS. History-New 12-23-98, Formerly 4-162.102, Amended 7-28-15.
Rulemaking Authority 624.308, 625.121(5)(k) FS. Law Implemented 624.307(1), 625.121 FS. History-New 12-23-98, Formerly 4-162.102, Amended 7-28-15.
Terms Used In Florida Regulations 69O-162.102
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.