50 Ill. Adm. Code 935.40
Individual Annuity or Pure Endowment Contracts
Section 935
Section 935.40 Individual
Annuity or Pure Endowment Contracts
a) Except as provided in subsections (b), (c), (d) and (e), 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 September 8,
1977 and before January 1, 2017.
b) Except as provided in subsections (c), (d) and (e), the 1983
Table "a" or the Annuity 2000 Mortality Table shall be used for
determining the minimum standard of valuation for any individual annuity or
pure endowment contract issued on or after December 31, 1985 and before January
1, 2017.
c) Except as provided in subsections (d) and (e), the Annuity
2000 Mortality Table shall be used for determining the minimum standard of
valuation for any individual annuity or pure endowment contract issued on or
after January 1, 1999 and before January 1, 2017.
d) Except as provided in subsection (e), the 2012 IAR Mortality
Table shall be used for determining the minimum standard of valuation for any
individual annuity or pure endowment contract issued on or after January 1, 2015
and before January 1, 2017.
e) The 1983 Table "a" without projection is to be used
for determining the minimum standards of valuation for an individual annuity or
pure endowment contract issued on or after January 1, 1999 and before January
1, 2017, solely when the contract is based on life contingencies and is issued
to fund periodic benefits arising from:
1) Settlements of various forms of claims pertaining to court
settlements or out of court settlements from tort actions;
2) Settlements involving similar actions such as workers' compensation
claims; or
3) Settlements of long term disability claims where a temporary
or life annuity has been used in lieu of continuing disability payments.