Section 3.28.690. Definitions.

In this chapter,  
		(1) "the 1983 Table 'a'" means the 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) "the 1983 GAM Table" means the group annuity 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) "the 1994 GAR Table" means the mortality table developed by the Society of Actuaries Group Annuity Valuation Table Task Force and adopted as a recognized mortality table for annuities in December 1996 by the National Association of Insurance Commissioners;  
		(4) "the Annuity 2000 Mortality Table" means the mortality table developed by the Society of Actuaries Committee on Life Insurance Research and adopted as a recognized mortality table for annuities in December 1996 by the National Association of Insurance Commissioners;  
		(5) "2001 CSO Mortality Tables" means the mortality tables consisting of separate rates of mortality for male and female lives, developed by the American Academy of Actuaries Commissioners Standard Ordinary (CSO) Task Force and adopted by the National Association of Insurance Commissioners in December 2002; "2001 CSO Mortality Tables" includes the ultimate, select and ultimate, smoker, nonsmoker, and composite 2001 CSO Mortality Tables, as well as the age-nearest birthday and age-last birthday bases of the tables;  
		(6) "female 2001 CSO Mortality Table" means the mortality table consisting of the rates of mortality for female lives from the 2001 CSO Mortality Tables;  
		(7) "male 2001 CSO Mortality Table" means the mortality table consisting of the rates of mortality for male lives from the 2001 CSO Mortality Tables;  
		(8) "composite mortality tables" means the mortality tables with rates of mortality that do not distinguish between smokers and nonsmokers;  
		(9) "smoker and nonsmoker mortality tables" means mortality tables with separate rates of mortality for smokers and nonsmokers;  
		(10) "2001 CSO Preferred Class Structure Mortality Tables" means the mortality tables consisting of separate rates of mortality for super-preferred nonsmokers, preferred nonsmokers, residual standard nonsmokers, preferred smokers, and residual standard smoker splits of the 2001 CSO smoker and nonsmoker tables adopted by the National Association of Insurance Commissioners in September 2006 and published in the NAIC Proceedings (3rd Quarter 2006); "2001 CSO Preferred Class Structure Mortality Tables" includes the ultimate, select and ultimate, smoker, nonsmoker, male, female, and composite 2001 CSO Mortality Tables, as well as the age-nearest birthday and age-last birthday bases of the mortality tables;   
		(11) "statistical agent" means an entity with  
			(A) proven systems for protecting the confidentiality of individual insured and insurer information;  
			(B) demonstrated resources for and a history of ongoing electronic communications and data transfer ensuring data integrity with insurers, which are its members or subscribers; and  
			(C) a history of and means for aggregation of data and accurate promulgation of the experience modifications in a timely manner.  
		(12) "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;  
		(13) "period" means the given calendar year;  
		(14) "period table" means a table of mortality rates applicable to a given calendar year;  
		(15) "Projection Scale G2" means 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 3 and 4 of this section;  
		(16) "the 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 and is shown in appendices 1 and 2 of this section;   
		(17) "the 2012 IAR Table" means the generational mortality table developed by the Society of Actuaries Committee on Life Insurance Research and containing rates, q/x2012+n, derived from a combination of the 2012 IAM Period Table and Projection Scale G2, using the methodology stated in 3 AAC 28.611.   
Appendix 1  
2012 IAM Period Table  
Female, Age Nearest Birthday  
CLICK TO VIEW  TABLE
Appendix 2  
2012 IAM Period Table  
Male, Age Nearest Birthday  
CLICK TO VIEW  TABLE
Appendix 3  
Projection Scale G2  
Female, Age Nearest Birthday  
CLICK TO VIEW  TABLE
Appendix 4  
Projection Scale G2  
Male, Age Nearest Birthday  
CLICK TO VIEW  TABLE

Authorities

21.06.090;21.18.110;21.18.160;44.62.125

Notes

Reference

3 AAC 21.905
3 AAC 21.920
3 AAC 21.925
3 AAC 28.619

Authority

AS 21.06.090 AS 21.18.110 AS 21.18.160 Editor's note: The 1983 Table "a", the 1983 GAM Table, the Annuity 2000 Mortality Table, the 2012 IAR table and the 1994 GAR Table referenced in 3 AAC 28.600 - 3 AAC 28.611, the 2001 CSO Preferred Class Structure Mortality Tables referenced in 3 AAC 28.630, and the 2001 CSO Mortality Tables referenced in 3 AAC 28.620 and 3 AAC 28.640 may be obtained from the Society of Actuaries, 475 N. Martingale Road, Suite 600, Schaumburg, Illinois 60173; telephone number [phone]. As of Register 218 (July 2016), the regulations attorney made technical corrections under AS 44.62.125(b)(6), to 3 AAC 28.690. ________________________

History

Eff. 12/31/85, Register 96; am 3/11/98, Register 145; am 1/1/2005, Register 172; am 12/28/2008, Register 188; am 12/26/2014, Register 212

References

3.28.600;3.28.611;3.28.630;3.28.620;3.28.640;3.28.690