Menu
Contact Us Search
CA Department of Insurance

Bulletin 99-01

STATE OF CALIFORNIA
DEPARTMENT OF INSURANCE
300 S. Spring Street, South Tower
Los Angeles, California 90013

Bulletin No. 99-1
January 1, 1999

TO: All Admitted Life Insurers Authorized to Transact a Variable Annuity Business and Other Parties

SUBJECT: Approval of Variable Annuity Mortality Valuation Tables

The National Association of Insurance Commissioners (NAIC), on September 22, 1997, adopted new annuity mortality tables for use in determining reserve liabilities for minimum guaranteed death benefits under variable annuities. The purpose of this bulletin is to approve those tables for use in determining reserve liabilities for variable annuities for valuations December 31, 1998 and thereafter, under the authority granted in California Insurance Code (CIC) § 10489.3(c).

As used below, "MGDB" means Minimum Guaranteed Death Benefit.

The following tables are hereby adopted:

1994 Variable Annuity MGDB Mortality Table FEMALE Age Last Birthday
1994 Variable Annuity MGDB Mortality Table FEMALE Age Nearest Birthday
1994 Variable Annuity MGDB Mortality Table MALE Age Last Birthday
1994 Variable Annuity MGDB Mortality Table MALE Age Nearest Birthday

These tables are found in the March 1997 mailing of the NAIC Life and Health Actuarial Task Force, pages 105 through 108. They are also in the Examiner's Handbook. Part 9- Actuarial Guidelines, pages 9-86 through 9-89, 12/97. These tables are approved in conjunction with the adoption of Guideline XXXIV, as incorporated in the NAIC Examiner's Handbook governing examinations and related procedures, adopted in CIC§ 730(b) and §733(f).

Questions regarding this Bulletin may be referred to:

W. Harold Phillips
Senior Life Actuary
Department of Insurance
300 South Spring Street, South Tower
Los Angeles, California 90013
Tel. (213) 346-6174
Fax (213) 897-9761
E-mail: phillipsh@insurance.ca.gov

CHUCK QUACKENBUSH

Insurance Commissioner

Font Size: Translate: Español