1374

LAWS OF MARYLAND

[Ch. 273

after January 1, 1966, the 1959 Accidental Death Benefits
Table; for policies issued on or after January 1, 1961,
and prior to January 1, 1966, either such table or, at
the option of the insurer, the Intercompany Double
Indemnity Mortality Table; and for policies issued prior
to January 1, 1961, the Intercompany Double Indemnity
Mortality Table. Either table shall be combined with a
mortality table permitted for calculating the reserves
for life insurance policies.

(vii) For group life insurance, life insurance
issued on the substandard basis and other special
benefits-—such tables as may be approved by the
Commissioner.

(a—2) The minimum standard for the valuation of all
individual annuity and pure endowment contracts issued on
or after the operative date of this paragraph (a—2), as
defined herein, and for all annuities and pure endowments
purchased on or after such operative date under group
annuity and pure endowment contracts, shall be the
Commissioners reserve valuation method defined in
paragraph (b) and the following tables and interest
rates:

(i) For individual annuity and pure endowment
contracts issued prior to January 1, 1986, excluding any
disability and accidental death benefits in such
contracts— the 1971 Individual Annuity Mortality Table,
or any modification of this table approved by the
Commissioner, and six percent (6%) interest for single
premium immediate annuity contracts, and four percent
(4%) interest for all other individual annuity and pure
endowment contracts.

(ii) For individual annuity and pure endowment
contracts issued on or after January 1, 1986, excluding
any disability and accidental death benefits in such
contracts — the 1971 Individual Annuity Mortality Table,
or any modification of this table approved by the
Commissioner, and three and one—half percent (3 1/2%)
interest.

(iii) For all annuities and pure endowments
purchased prior to January 1, 1986 under group annuity
and pure endowment contracts, excluding any disability
and accidental death benefits in such contracts —the
1971 Group Annuity Mortality Table, or any modification
of this table approved by the Commissioner, and six
percent (6%) interest.

(iv) For all annuities and pure endowments
purchased on or after January 1, 1986 under group annuity
and pure endowment contracts, excluding any disability