The purpose of this chapter is to approve the use of new mortality tables adopted by the National Association of Insurance Commissioners after 1980 as a basis for determining the minimum standards of valuation of annuities and pure endowments purchased under group annuity and pure endowment contracts. In this chapter, the following terms have the meanings indicated. Terms Defined. "1983 GAM Tables" means the mortality tables: Developed by the Society of Actuaries Committee on Annuities; Adopted as a recognized mortality table for annuities in December 1983 by the National Association of Insurance Commissioners; and Set out in Regulation .03 of this chapter. "1983 Table “a” means the mortality table: Developed by the Society of Actuaries Committee to Recommend a New Mortality Basis for Individual Annuity Valuation; Adopted as a recognized mortality table for annuities in June 1982 by the National Association of Insurance Commissioners; and Set out in COMAR 31.05.04.03. "1994 GAR Table" means the mortality table: Developed by the Society of Actuaries Group Annuity Valuation Table Task Force; and Set out in Regulation .04 of this chapter. 1983 GAM TABLE—MALES. 1983 GAM TABLE—FEMALES. Male Female Age (x) qx1994 AAx qx1994 AAx 1 0.000592 0.020 0.000531 0.020 2 0.000400 0.020 0.000346 0.020 3 0.000332 0.020 0.000258 0.020 4 0.000259 0.020 0.000194 0.020 5 0.000237 0.020 0.000175 0.020 6 0.000227 0.020 0.000163 0.020 7 0.000217 0.020 0.000153 0.020 8 0.000201 0.020 0.000137 0.020 9 0.000194 0.020 0.000130 0.020 10 0.000197 0.020 0.000131 0.020 11 0.000208 0.020 0.000138 0.020 12 0.000226 0.020 0.000148 0.020 13 0.000255 0.020 0.000164 0.020 14 0.000297 0.019 0.000189 0.018 15 0.000345 0.019 0.000216 0.016 16 0.000391 0.019 0.000242 0.015 17 0.000430 0.019 0.000262 0.014 18 0.000460 0.019 0.000273 0.014 19 0.000484 0.019 0.000280 0.015 20 0.000507 0.019 0.000284 0.016 21 0.000530 0.018 0.000286 0.017 22 0.000556 0.017 0.000289 0.017 23 0.000589 0.015 0.000292 0.016 24 0.000624 0.013 0.000291 0.015 25 0.000661 0.010 0.000291 0.014 26 0.000696 0.006 0.000294 0.012 27 0.000727 0.005 0.000302 0.012 28 0.000754 0.005 0.000314 0.012 29 0.000779 0.005 0.000331 0.012 30 0.000801 0.005 0.000351 0.010 31 0.000821 0.005 0.000373 0.008 32 0.000839 0.005 0.000397 0.008 33 0.000848 0.005 0.000422 0.009 34 0.000849 0.005 0.000449 0.010 35 0.000851 0.005 0.000478 0.011 36 0.000862 0.005 0.000512 0.012 37 0.000891 0.005 0.000551 0.013 38 0.000939 0.006 0.000598 0.014 39 0.000999 0.007 0.000652 0.015 40 0.001072 0.008 0.000709 0.015 41 0.001156 0.009 0.000768 0.015 42 0.001252 0.010 0.000825 0.015 43 0.001352 0.011 0.000877 0.015 44 0.001458 0.012 0.000923 0.015 45 0.001578 0.013 0.000973 0.016 46 0.001722 0.014 0.001033 0.017 47 0.001899 0.015 0.001112 0.018 48 0.002102 0.016 0.001206 0.018 49 0.002326 0.017 0.001310 0.018 50 0.002579 0.018 0.001428 0.017 51 0.002872 0.019 0.001568 0.016 52 0.003213 0.020 0.001734 0.014 53 0.003584 0.020 0.001907 0.012 54 0.003979 0.020 0.002084 0.010 55 0.004425 0.019 0.002294 0.008 56 0.004949 0.018 0.002563 0.006 57 0.005581 0.017 0.002919 0.005 58 0.006300 0.016 0.003359 0.005 59 0.007090 0.016 0.003863 0.005 60 0.007976 0.016 0.004439 0.005 61 0.008986 0.015 0.005093 0.005 62 0.010147 0.015 0.005832 0.005 63 0.011471 0.014 0.006677 0.005 64 0.012940 0.014 0.007621 0.005 65 0.014535 0.014 0.008636 0.005 66 0.016239 0.013 0.009694 0.005 67 0.018034 0.013 0.010764 0.005 68 0.019859 0.014 0.011763 0.005 69 0.021729 0.014 0.012709 0.005 70 0.023730 0.015 0.013730 0.005 71 0.025951 0.015 0.014953 0.006 72 0.028481 0.015 0.016506 0.006 73 0.031201 0.015 0.018344 0.007 74 0.034051 0.015 0.020381 0.007 75 0.037211 0.014 0.022686 0.008 76 0.040858 0.014 0.025325 0.008 77 0.045171 0.013 0.028366 0.007 78 0.050211 0.012 0.031727 0.007 79 0.055861 0.011 0.035362 0.007 80 0.062027 0.010 0.039396 0.007 81 0.068615 0.009 0.043952 0.007 82 0.075532 0.008 0.049153 0.007 83 0.082510 0.008 0.054857 0.007 84 0.089613 0.007 0.060979 0.007 85 0.097240 0.007 0.067738 0.006 86 0.105792 0.007 0.075347 0.005 87 0.115671 0.006 0.084023 0.004 88 0.126980 0.005 0.093820 0.004 89 0.139452 0.005 0.104594 0.003 90 0.152931 0.004 0.116265 0.003 91 0.167260 0.004 0.128751 0.003 92 0.182281 0.003 0.141973 0.003 93 0.198392 0.003 0.155931 0.002 94 0.215700 0.003 0.170677 0.002 95 0.233606 0.002 0.186213 0.002 96 0.251510 0.002 0.202538 0.002 97 0.268815 0.002 0.219655 0.001 98 0.285277 0.001 0.237713 0.001 99 0.301298 0.001 0.256712 0.001 100 0.317238 0.001 0.276427 0.001 101 0.333461 0.000 0.296629 0.000 102 0.350330 0.000 0.317093 0.000 103 0.368542 0.000 0.338505 0.000 104 0.387855 0.000 0.361016 0.000 105 0.407224 0.000 0.383597 0.000 106 0.425599 0.000 0.405217 0.000 107 0.441935 0.000 0.424846 0.000 108 0.457553 0.000 0.444358 0.000 109 0.473150 0.000 0.464469 0.000 110 0.486745 0.000 0.482325 0.000 111 0.496356 0.000 0.495110 0.000 112 0.500000 0.000 0.500000 0.000 113 0.500000 0.000 0.500000 0.000 114 0.500000 0.000 0.500000 0.000 115 0.500000 0.000 0.500000 0.000 116 0.500000 0.000 0.500000 0.000 117 0.500000 0.000 0.500000 0.000 118 0.500000 0.000 0.500000 0.000 119 0.500000 0.000 0.500000 0.000 120 1.000000 0.000 1.000000 0.000 In valuing the reserve liabilities for annuities and pure endowments purchased under group annuity and pure endowment contracts in accordance with the provisions of Insurance Article, §5-305(f), Annotated Code of Maryland, insurers may use either the 1971 Group Annuity Mortality Table, the 1983 GAM Tables shown in Regulation .03 of this chapter, or the 1983 Table “a” shown in COMAR 31.05.04.03 for annuities and pure endowments purchased on or after July 1, 1980, and before January 1, 1987. Except as provided in §§C and D of this regulation, the 1983 GAM Tables are to be used by insurers in valuing reserve liabilities in accordance with the provisions of Insurance Article, §5-305(f), Annotated Code of Maryland, for annuities and pure endowments purchased on and after January 1, 1987, under group annuity and pure endowment contracts. Except as provided in §D of this regulation, either the 1983 GAM Table or the 1994 GAR Table shall be used for determining the minimum standard of valuation for any annuity or pure endowment purchased on or after July 1, 2004 under a group annuity or pure endowment contract. The 1994 GAR Table shall be used for determining the minimum standard of valuation for any annuity or pure endowment purchased on or after July 1, 2005 under a group annuity or pure endowment contract. In using the 1994 GAR Table, the mortality rate for a person age X in year (1994 + n) is calculated as follows: qx1994+n = qx1994 (1-AAx) n where the qx1994 and AAxs are as specified in the 1994 GAR Table. Insurance Article, §2-109 and Title 5, Subtitle 3, Annotated Code of Maryland Effective date: December 31, 1985 (12:26 Md. R. 2545) Chapter recodified from COMAR 09.30.69 to COMAR 31.05.05 effective September 7, 1998 (25:18 Md. R. 1439) Chapter revised effective May 24, 2004 (31:10 Md. R. 796)