{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-1370.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-1370.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-1370.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-1370.html"}],"law_id":86779,"edition_id":1,"section_id":86779,"structure_id":14262,"section_number":"38.2-1370","catch_line":"Computation of minimum standard for annuities","history":"2014, c. 571.","full_text":"A\n\nExcept as provided in \u00a7 38.2-1371, the minimum standard of valuation for individual annuity and pure endowment contracts issued on or after the operative date of this section and for annuities and pure endowments purchased on or after the operative date under group annuity and pure endowment contracts shall be the Commissioners reserve valuation methods defined in \u00a7\u00a7 38.2-1372 and 38.2-1373 and the following tables and interest rates:1\n\nFor individual annuity and pure endowment contracts issued prior to July 1, 1979, excluding any disability and accidental death benefits in those contracts: The 1971 Individual Annuity Mortality Table, or any modification of that table approved by the Commission, and six percent interest for single premium immediate annuity contracts and four percent interest for all other individual annuity and pure endowment contracts;2\n\nFor individual single premium immediate annuity contracts issued on or after July 1, 1979, excluding any disability and accidental death benefits in those contracts: The 1971 Individual Annuity Mortality Table or any individual annuity mortality table adopted after 1980 by the NAIC and approved by regulation adopted by the Commission for use in determining the minimum standard of valuation for these contracts, or any modification of those tables approved by the Commission, and seven and one-half percent interest;3\n\nFor individual annuity and pure endowment contracts issued on or after July 1, 1979, other than single premium immediate annuity contracts, excluding any disability and accidental death benefits in those contracts: The 1971 Individual Annuity Mortality Table or any individual annuity mortality table adopted after 1980 by the NAIC and approved by regulation adopted by the Commission for use in determining the minimum standard of valuation for those contracts, or any modification of those tables approved by the Commission, and five and one-half percent interest for single premium deferred annuity and pure endowment contracts and four and one-half percent interest for all other individual annuity and pure endowment contracts;4\n\nFor annuities and pure endowments purchased prior to July 1, 1979, under group annuity and pure endowment contracts, excluding any disability and accidental death benefits purchased under those contracts: The 1971 Group Annuity Mortality Table or any modification of that table approved by the Commission, and six percent interest; and5\n\nFor annuities and pure endowments purchased on or after July 1, 1979, under group annuity and pure endowment contracts, excluding any disability and accidental death benefits purchased under those contracts: The 1971 Group Annuity Mortality Table, or any group annuity mortality table adopted after 1980 by the NAIC and approved by regulation adopted by the Commission for use in determining the minimum standard of valuation for those annuities and pure endowments, or any modification of those tables approved by the Commission, and seven and one-half percent interest.B\n\nAfter July 1, 1975, any insurer may file with the Commission a written notice of its election to comply with the provisions of this section after a specified date before January 1, 1979, which shall be the operative date of this section for that insurer. However, an insurer may elect a different operative date for individual annuity and pure endowment contracts from that elected for group annuity and pure endowment contracts. If an insurer makes no election, the operative date of this section for that insurer shall be January 1, 1979.","order_by":null,"text":{"0":{"id":310750,"text":"Except as provided in \u00a7 38.2-1371, the minimum standard of valuation for individual annuity and pure endowment contracts issued on or after the operative date of this section and for annuities and pure endowments purchased on or after the operative date under group annuity and pure endowment contracts shall be the Commissioners reserve valuation methods defined in \u00a7\u00a7 38.2-1372 and 38.2-1373 and the following tables and interest rates:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":310751,"text":"For individual annuity and pure endowment contracts issued prior to July 1, 1979, excluding any disability and accidental death benefits in those contracts: The 1971 Individual Annuity Mortality Table, or any modification of that table approved by the Commission, and six percent interest for single premium immediate annuity contracts and four percent interest for all other individual annuity and pure endowment contracts;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":310752,"text":"For individual single premium immediate annuity contracts issued on or after July 1, 1979, excluding any disability and accidental death benefits in those contracts: The 1971 Individual Annuity Mortality Table or any individual annuity mortality table adopted after 1980 by the NAIC and approved by regulation adopted by the Commission for use in determining the minimum standard of valuation for these contracts, or any modification of those tables approved by the Commission, and seven and one-half percent interest;","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":310753,"text":"For individual annuity and pure endowment contracts issued on or after July 1, 1979, other than single premium immediate annuity contracts, excluding any disability and accidental death benefits in those contracts: The 1971 Individual Annuity Mortality Table or any individual annuity mortality table adopted after 1980 by the NAIC and approved by regulation adopted by the Commission for use in determining the minimum standard of valuation for those contracts, or any modification of those tables approved by the Commission, and five and one-half percent interest for single premium deferred annuity and pure endowment contracts and four and one-half percent interest for all other individual annuity and pure endowment contracts;","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"A4"},"4":{"id":310754,"text":"For annuities and pure endowments purchased prior to July 1, 1979, under group annuity and pure endowment contracts, excluding any disability and accidental death benefits purchased under those contracts: The 1971 Group Annuity Mortality Table or any modification of that table approved by the Commission, and six percent interest; and","type":"section","prefixes":["A","4"],"prefix":"4","entire_prefix":"A4","prefix_anchor":"A4","level":2,"prior_prefix":"A3","next_prefix":"A5"},"5":{"id":310755,"text":"For annuities and pure endowments purchased on or after July 1, 1979, under group annuity and pure endowment contracts, excluding any disability and accidental death benefits purchased under those contracts: The 1971 Group Annuity Mortality Table, or any group annuity mortality table adopted after 1980 by the NAIC and approved by regulation adopted by the Commission for use in determining the minimum standard of valuation for those annuities and pure endowments, or any modification of those tables approved by the Commission, and seven and one-half percent interest.","type":"section","prefixes":["A","5"],"prefix":"5","entire_prefix":"A5","prefix_anchor":"A5","level":2,"prior_prefix":"A4","next_prefix":"B"},"6":{"id":310756,"text":"After July 1, 1975, any insurer may file with the Commission a written notice of its election to comply with the provisions of this section after a specified date before January 1, 1979, which shall be the operative date of this section for that insurer. However, an insurer may elect a different operative date for individual annuity and pure endowment contracts from that elected for group annuity and pure endowment contracts. If an insurer makes no election, the operative date of this section for that insurer shall be January 1, 1979.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A5"}},"ancestry":[{"id":14262,"edition_id":1,"name":"Standard Valuation","identifier":"10","label":"article","depth":3,"order_by":1,"parent_id":13289,"metadata":{},"date_created":"2026-06-26 03:47:30","date_modified":"2026-06-26 03:47:30","permalink":{"id":211387,"object_type":"structure","relational_id":14262,"identifier":"10","token":"38.2\/13\/10","url":"\/38.2\/13\/10\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13289,"edition_id":1,"name":"Reports, Reserves and Examinations, Insurance Holding Companies, Reinsurance Intermediaries, and Managing General Agents","identifier":"13","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 03:44:35","date_modified":"2026-06-26 03:44:35","permalink":{"id":211347,"object_type":"structure","relational_id":13289,"identifier":"13","token":"38.2\/13","url":"\/38.2\/13\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12698,"edition_id":1,"name":"Insurance","identifier":"38.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":210661,"object_type":"structure","relational_id":12698,"identifier":"38.2","token":"38.2","url":"\/38.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":84586,"structure_id":14262,"section_number":"38.2-1365","catch_line":"Definitions","url":"\/38.2-1365\/","token":"38.2\/13\/10\/38.2-1365","metadata":false},{"id":80617,"structure_id":14262,"section_number":"38.2-1366","catch_line":"Reserve valuation","url":"\/38.2-1366\/","token":"38.2\/13\/10\/38.2-1366","metadata":false},{"id":70162,"structure_id":14262,"section_number":"38.2-1367","catch_line":"Actuarial opinion of reserves","url":"\/38.2-1367\/","token":"38.2\/13\/10\/38.2-1367","metadata":false},{"id":67907,"structure_id":14262,"section_number":"38.2-1368","catch_line":"Minimum valuation standard for policies issued prior to certain dates","url":"\/38.2-1368\/","token":"38.2\/13\/10\/38.2-1368","metadata":false},{"id":66783,"structure_id":14262,"section_number":"38.2-1369","catch_line":"Computation of minimum standard","url":"\/38.2-1369\/","token":"38.2\/13\/10\/38.2-1369","metadata":false},{"id":86779,"structure_id":14262,"section_number":"38.2-1370","catch_line":"Computation of minimum standard for annuities","url":"\/38.2-1370\/","token":"38.2\/13\/10\/38.2-1370","metadata":false},{"id":76954,"structure_id":14262,"section_number":"38.2-1371","catch_line":"Computation of minimum standard by calendar year of issue","url":"\/38.2-1371\/","token":"38.2\/13\/10\/38.2-1371","metadata":false},{"id":72346,"structure_id":14262,"section_number":"38.2-1372","catch_line":"Reserve valuation method; life insurance and endowment benefits","url":"\/38.2-1372\/","token":"38.2\/13\/10\/38.2-1372","metadata":false},{"id":76847,"structure_id":14262,"section_number":"38.2-1373","catch_line":"Reserve valuation method; annuity and pure endowment benefits","url":"\/38.2-1373\/","token":"38.2\/13\/10\/38.2-1373","metadata":false},{"id":77501,"structure_id":14262,"section_number":"38.2-1374","catch_line":"Minimum reserves","url":"\/38.2-1374\/","token":"38.2\/13\/10\/38.2-1374","metadata":false},{"id":84837,"structure_id":14262,"section_number":"38.2-1375","catch_line":"Optional reserve calculation","url":"\/38.2-1375\/","token":"38.2\/13\/10\/38.2-1375","metadata":false},{"id":55507,"structure_id":14262,"section_number":"38.2-1376","catch_line":"Reserve calculation; valuation net premium exceeding the gross premium charged","url":"\/38.2-1376\/","token":"38.2\/13\/10\/38.2-1376","metadata":false},{"id":76132,"structure_id":14262,"section_number":"38.2-1377","catch_line":"Reserve calculation; indeterminate premium plans","url":"\/38.2-1377\/","token":"38.2\/13\/10\/38.2-1377","metadata":false},{"id":71532,"structure_id":14262,"section_number":"38.2-1378","catch_line":"Minimum standard for accident and health insurance contracts","url":"\/38.2-1378\/","token":"38.2\/13\/10\/38.2-1378","metadata":false},{"id":86866,"structure_id":14262,"section_number":"38.2-1379","catch_line":"Valuation manual for policies issued on or after the operative date of the valuation manual","url":"\/38.2-1379\/","token":"38.2\/13\/10\/38.2-1379","metadata":false},{"id":82780,"structure_id":14262,"section_number":"38.2-1380","catch_line":"Requirements of a principle-based valuation","url":"\/38.2-1380\/","token":"38.2\/13\/10\/38.2-1380","metadata":false},{"id":56910,"structure_id":14262,"section_number":"38.2-1381","catch_line":"Experience reporting for policies in force on or after the operative date of the valuation manual","url":"\/38.2-1381\/","token":"38.2\/13\/10\/38.2-1381","metadata":false},{"id":67564,"structure_id":14262,"section_number":"38.2-1382","catch_line":"Confidentiality","url":"\/38.2-1382\/","token":"38.2\/13\/10\/38.2-1382","metadata":false},{"id":76707,"structure_id":14262,"section_number":"38.2-1383","catch_line":"Single state exemption","url":"\/38.2-1383\/","token":"38.2\/13\/10\/38.2-1383","metadata":false},{"id":63558,"structure_id":14262,"section_number":"38.2-1384","catch_line":"Assessment against insurers whose policies are valued","url":"\/38.2-1384\/","token":"38.2\/13\/10\/38.2-1384","metadata":false},{"id":65928,"structure_id":14262,"section_number":"38.2-1385","catch_line":"Article not applicable in certain cases","url":"\/38.2-1385\/","token":"38.2\/13\/10\/38.2-1385","metadata":false}],"previous_section":{"id":66783,"structure_id":14262,"section_number":"38.2-1369","catch_line":"Computation of minimum standard","url":"\/38.2-1369\/","token":"38.2\/13\/10\/38.2-1369","metadata":false},"next_section":{"id":76954,"structure_id":14262,"section_number":"38.2-1371","catch_line":"Computation of minimum standard by calendar year of issue","url":"\/38.2-1371\/","token":"38.2\/13\/10\/38.2-1371","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-1370\/","history_text":"<p>This law was first created in 2014. The record of its establishment is cataloged in chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?141+ful+CHAP0571\">571<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":[{"id":67907,"section_number":"38.2-1368","catch_line":"Minimum valuation standard for policies issued prior to certain dates","order_by":null,"url":"\/38.2-1368\/"},{"id":66783,"section_number":"38.2-1369","catch_line":"Computation of minimum standard","order_by":null,"url":"\/38.2-1369\/"}],"refers_to":[{"id":76954,"section_number":"38.2-1371","catch_line":"Computation of minimum standard by calendar year of issue","order_by":null,"url":"\/38.2-1371\/"},{"id":72346,"section_number":"38.2-1372","catch_line":"Reserve valuation method; life insurance and endowment benefits","order_by":null,"url":"\/38.2-1372\/"},{"id":76847,"section_number":"38.2-1373","catch_line":"Reserve valuation method; annuity and pure endowment benefits","order_by":null,"url":"\/38.2-1373\/"}],"permalink":{"id":211409,"object_type":"law","relational_id":86779,"identifier":"38.2-1370","token":"38.2\/13\/10\/38.2-1370","url":"\/38.2-1370\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-1370\/","token":"38.2\/13\/10\/38.2-1370","dublin_core":{"Title":"Computation of minimum standard for annuities","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-1370","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section id=\"A\"><p><span class=\"prefix-number\">A.<\/span> Except as provided in \u00a7&nbsp;<a class=\"law\" title=\"Computation of minimum standard by calendar year of issue\" href=\"\/38.2-1371\/\">38.2-1371<\/a>, the minimum standard of valuation for individual annuity and pure endowment <span class=\"dictionary\">contracts<\/span> issued on or after the operative date of this section and for annuities and pure endowments purchased on or after the operative date under group annuity and pure endowment <span class=\"dictionary\">contracts<\/span> shall be the <span class=\"dictionary\">Commissioners<\/span> reserve valuation methods defined in \u00a7\u00a7&nbsp;<a class=\"law\" title=\"Reserve valuation method; life insurance and endowment benefits\" href=\"\/38.2-1372\/\">38.2-1372<\/a> and <a class=\"law\" title=\"Reserve valuation method; annuity and pure endowment benefits\" href=\"\/38.2-1373\/\">38.2-1373<\/a> and the following tables and interest <span class=\"dictionary\"><span class=\"dictionary\">rates<\/span><\/span>: <a id=\"paragraph-310750\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/38.2-1370\/#A\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A1\" class=\"indent-1\"><p><span class=\"prefix-number\">1.<\/span> For individual annuity and pure endowment <span class=\"dictionary\">contracts<\/span> issued prior to July 1, 1979, excluding any disability and accidental death benefits in those <span class=\"dictionary\">contracts<\/span>: The 1971 Individual Annuity Mortality Table, or any modification of that table approved by the <span class=\"dictionary\">Commission<\/span>, and six percent interest for single premium immediate annuity <span class=\"dictionary\">contracts<\/span> and four percent interest for all other individual annuity and pure endowment <span class=\"dictionary\">contracts<\/span>; <a id=\"paragraph-310751\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/38.2-1370\/#A1\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A2\" class=\"indent-1\"><p><span class=\"prefix-number\">2.<\/span> For individual single premium immediate annuity <span class=\"dictionary\">contracts<\/span> issued on or after July 1, 1979, excluding any disability and accidental death benefits in those <span class=\"dictionary\">contracts<\/span>: The 1971 Individual Annuity Mortality Table or any individual annuity mortality table adopted after 1980 by the <span class=\"dictionary\">NAIC<\/span> and approved by regulation adopted by the <span class=\"dictionary\">Commission<\/span> for use in determining the minimum standard of valuation for these <span class=\"dictionary\">contracts<\/span>, or any modification of those tables approved by the <span class=\"dictionary\">Commission<\/span>, and seven and one-half percent interest; <a id=\"paragraph-310752\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/38.2-1370\/#A2\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A3\" class=\"indent-1\"><p><span class=\"prefix-number\">3.<\/span> For individual annuity and pure endowment <span class=\"dictionary\">contracts<\/span> issued on or after July 1, 1979, other than single premium immediate annuity <span class=\"dictionary\">contracts<\/span>, excluding any disability and accidental death benefits in those <span class=\"dictionary\">contracts<\/span>: The 1971 Individual Annuity Mortality Table or any individual annuity mortality table adopted after 1980 by the <span class=\"dictionary\">NAIC<\/span> and approved by regulation adopted by the <span class=\"dictionary\">Commission<\/span> for use in determining the minimum standard of valuation for those <span class=\"dictionary\">contracts<\/span>, or any modification of those tables approved by the <span class=\"dictionary\">Commission<\/span>, and five and one-half percent interest for single premium deferred annuity and pure endowment <span class=\"dictionary\">contracts<\/span> and four and one-half percent interest for all other individual annuity and pure endowment <span class=\"dictionary\">contracts<\/span>; <a id=\"paragraph-310753\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/38.2-1370\/#A3\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A4\" class=\"indent-1\"><p><span class=\"prefix-number\">4.<\/span> For annuities and pure endowments purchased prior to July 1, 1979, under group annuity and pure endowment <span class=\"dictionary\">contracts<\/span>, excluding any disability and accidental death benefits purchased under those <span class=\"dictionary\">contracts<\/span>: The 1971 Group Annuity Mortality Table or any modification of that table approved by the <span class=\"dictionary\">Commission<\/span>, and six percent interest; and <a id=\"paragraph-310754\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/38.2-1370\/#A4\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A5\" class=\"indent-1\"><p><span class=\"prefix-number\">5.<\/span> For annuities and pure endowments purchased on or after July 1, 1979, under group annuity and pure endowment <span class=\"dictionary\">contracts<\/span>, excluding any disability and accidental death benefits purchased under those <span class=\"dictionary\">contracts<\/span>: The 1971 Group Annuity Mortality Table, or any group annuity mortality table adopted after 1980 by the <span class=\"dictionary\">NAIC<\/span> and approved by regulation adopted by the <span class=\"dictionary\">Commission<\/span> for use in determining the minimum standard of valuation for those annuities and pure endowments, or any modification of those tables approved by the <span class=\"dictionary\">Commission<\/span>, and seven and one-half percent interest. <a id=\"paragraph-310755\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/38.2-1370\/#A5\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"B\"><p><span class=\"prefix-number\">B.<\/span> After July 1, 1975, any <span class=\"dictionary\">insurer<\/span> may file with the <span class=\"dictionary\">Commission<\/span> a written notice of its election to comply with the provisions of this section after a specified date before January 1, 1979, which shall be the operative date of this section for that <span class=\"dictionary\">insurer<\/span>. However, an <span class=\"dictionary\">insurer<\/span> may elect a different operative date for individual annuity and pure endowment <span class=\"dictionary\">contracts<\/span> from that elected for group annuity and pure endowment <span class=\"dictionary\">contracts<\/span>. If an <span class=\"dictionary\">insurer<\/span> makes no election, the operative date of this section for that <span class=\"dictionary\">insurer<\/span> shall be January 1, 1979. <a id=\"paragraph-310756\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/38.2-1370\/#B\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nCOMPUTATION OF MINIMUM STANDARD FOR ANNUITIES (\u00a7 38.2-1370)\n\nA. Except as provided in \u00a7 38.2-1371, the minimum standard of valuation for\nindividual annuity and pure endowment contracts issued on or after the operative\ndate of this section and for annuities and pure endowments purchased on or after\nthe operative date under group annuity and pure endowment contracts shall be the\nCommissioners reserve valuation methods defined in \u00a7\u00a7 38.2-1372 and 38.2-1373\nand the following tables and interest rates:\n\n   1. For individual annuity and pure endowment contracts issued prior to July 1,\n   1979, excluding any disability and accidental death benefits in those\n   contracts: The 1971 Individual Annuity Mortality Table, or any modification of\n   that table approved by the Commission, and six percent interest for single\n   premium immediate annuity contracts and four percent interest for all other\n   individual annuity and pure endowment contracts;\n\n   2. For individual single premium immediate annuity contracts issued on or\n   after July 1, 1979, excluding any disability and accidental death benefits in\n   those contracts: The 1971 Individual Annuity Mortality Table or any individual\n   annuity mortality table adopted after 1980 by the NAIC and approved by\n   regulation adopted by the Commission for use in determining the minimum\n   standard of valuation for these contracts, or any modification of those tables\n   approved by the Commission, and seven and one-half percent interest;\n\n   3. For individual annuity and pure endowment contracts issued on or after July\n   1, 1979, other than single premium immediate annuity contracts, excluding any\n   disability and accidental death benefits in those contracts: The 1971\n   Individual Annuity Mortality Table or any individual annuity mortality table\n   adopted after 1980 by the NAIC and approved by regulation adopted by the\n   Commission for use in determining the minimum standard of valuation for those\n   contracts, or any modification of those tables approved by the Commission, and\n   five and one-half percent interest for single premium deferred annuity and\n   pure endowment contracts and four and one-half percent interest for all other\n   individual annuity and pure endowment contracts;\n\n   4. For annuities and pure endowments purchased prior to July 1, 1979, under\n   group annuity and pure endowment contracts, excluding any disability and\n   accidental death benefits purchased under those contracts: The 1971 Group\n   Annuity Mortality Table or any modification of that table approved by the\n   Commission, and six percent interest; and\n\n   5. For annuities and pure endowments purchased on or after July 1, 1979, under\n   group annuity and pure endowment contracts, excluding any disability and\n   accidental death benefits purchased under those contracts: The 1971 Group\n   Annuity Mortality Table, or any group annuity mortality table adopted after\n   1980 by the NAIC and approved by regulation adopted by the Commission for use\n   in determining the minimum standard of valuation for those annuities and pure\n   endowments, or any modification of those tables approved by the Commission,\n   and seven and one-half percent interest.\n\nB. After July 1, 1975, any insurer may file with the Commission a written notice\nof its election to comply with the provisions of this section after a specified\ndate before January 1, 1979, which shall be the operative date of this section\nfor that insurer. However, an insurer may elect a different operative date for\nindividual annuity and pure endowment contracts from that elected for group\nannuity and pure endowment contracts. If an insurer makes no election, the\noperative date of this section for that insurer shall be January 1, 1979.\n\nHISTORY: 2014, c. 571.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}