Florida Regulations 69O-162.103: Definitions
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As used in this rule chapter, the following terms have the following meaning:
(1) “”1994 GAR Table”” – means that mortality table developed by the Society of Actuaries Group Annuity Valuation Table Task Force.
(2) “”Annuity 2000 Mortality Table”” means that mortality table developed by the Society of Actuaries Committee on Life Insurance Research.
(3) “”Period table”” means a table of mortality rates applicable to a given calendar year (the Period).
(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.
(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, qx2012+n, derived from a combination of the 2012 IAM Period Table and Projection Scale G2, using the methodology stated in subsection 69O-162.106(2), F.A.C.
(6) “”2012 Individual Annuity Mortality Life (2012 IAM Period) Table”” means the Period table containing loaded mortality rates for calendar year 2012. This table contains rates, qx2012, developed by the Society of Actuaries Committee on Life Insurance Research.
(6) “”Projection Scale G2 (Scale G2)”” 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.
Rulemaking Authority 624.308, 625.121(5)(k) FS. Law Implemented 624.307(1), 625.121 FS. History-New 12-23-98, Formerly 4-162.103, 7-28-15.
Terms Used In Florida Regulations 69O-162.103
- 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.
(2) “”Annuity 2000 Mortality Table”” means that mortality table developed by the Society of Actuaries Committee on Life Insurance Research.
(3) “”Period table”” means a table of mortality rates applicable to a given calendar year (the Period).
(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.
(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, qx2012+n, derived from a combination of the 2012 IAM Period Table and Projection Scale G2, using the methodology stated in subsection 69O-162.106(2), F.A.C.
(6) “”2012 Individual Annuity Mortality Life (2012 IAM Period) Table”” means the Period table containing loaded mortality rates for calendar year 2012. This table contains rates, qx2012, developed by the Society of Actuaries Committee on Life Insurance Research.
(6) “”Projection Scale G2 (Scale G2)”” 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.
Rulemaking Authority 624.308, 625.121(5)(k) FS. Law Implemented 624.307(1), 625.121 FS. History-New 12-23-98, Formerly 4-162.103, 7-28-15.