MARVIN MANDEL, Governor

1375

and accidental death benefits in such contracts—the 1971
Group Annuity Mortality Table, or any modification of
this table approved by the Commissioner, and three and
one—half percent (3 1/2%) interest.

After the effective date of this amendatory act of
1973, any insurer may file with the Commissioner a
written notice of its election to comply with the
provisions of this paragraph (a—2) after a specified date
before January 1, 1979, which shall be the operative date
of this paragraph for such insurer, provided that 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 such election, the operative date
of this paragraph for such insurer shall be January 1,
1979.

3 39.

(g) The minimum standard of valuation for
certificates issued after December 31, 1963, shall be
three and one—half percent (3 1/2%) interest and the
following tables:

(1)        For certificates of life
insurance—American Men Ultimate Table Of Mortality, with
Bowerman's or Davis' Extension thereof or with the
consent of the Commissioner, the Commissioners 1941
Standard Ordinary Mortality Table, the Commissioners 1941
Standard Industrial Mortality Table or the Commissioners
1958 Standard Ordinary Mortality Table. ANY DIFFERENTIAL
BASED ON SEX SHALL REFLECT ACTUARIAL EXPECTANCIES AND
SHALL BE SUBJECT TO APPROVAL BY THE COMMISSIONER[[, using
actual age of the insured for male risks and an age not
more than three years younger than the actual age of the
insured for female risks]];

(2)     For annuity and pure endowment
certificates, excluding any disability and accidental
death benefits in such certificates—the 1937 Standard
Annuity Mortality Table or the Annuity Mortality Table
for 1949, Ultimate, or any modification of either of
these tables approved by the Commissioner;

(3)     For total and permanent disability
benefits in or supplementary to life insurance
certificates—Hunter's Disability Table, or the Class (3)
Disability Table (1926) modified to conform to the
contractual waiting period, or the tables of Period 2
disablement rates and the 1930 to 1950 termination rates
of the 1952 Disability Study of the Society of Actuaries,
with due regard to the type of benefit. Any such table
shall, for active lives, be combined with a mortality