Section 84.2. Definitions

The following words and terms, when used in this chapter, have the following meanings, unless the context clearly indicates otherwise:

Act—The Insurance Department Act of 1921 (40 P. S. § § 1—321).

Annuity 2000 Mortality Table—The mortality table developed by the Society of Actuaries Committee on Life Insurance Research and shown on page 240 of Volume XLVII of the Transactions of the Society of Actuaries (1995) and adopted as a recognized mortality table for annuities in December 1996 by the NAIC.

Commissioner—The Insurance Commissioner of the Commonwealth.

Department—The Insurance Department of the Commonwealth.

Law—The Insurance Company Law of 1921 (40 P. S. § § 341—991).

NAIC—The National Association of Insurance Commissioners.

1983 Table ‘‘a’’—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 NAIC.

1983 GAM Table—The 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 NAIC.

1994 GAR Table—The mortality table developed by the Society of Actuaries Group Annuity Valuation Table Task Force and shown on pages 866—867 of volume XLVII of the Transactions of the Society of Actuaries (1995) and adopted as a recognized mortality table for annuities in December 1996 by the NAIC.

The provisions of this § 84.2 amended June 25, 1999, effective June 26, 1999, 29 Pa.B. 3208. Immediately preceding text appears at serial pages (132179) to (132180).

Notation

Authority

The provisions of this § 84.2 amended under sections 206, 506, 1501 and 1502 of The Administrative Code of 1929 (71 P. S. § § 66, 186, 411 and 412); section 301(c)(1) of The Insurance Department Act of 1921 (40 P. S. § 71(c)(1)); and section 410F(e)(8)(F) of The Insurance Company Law (40 P. S. § 510.1(e)(8)(F)).