The reference interest rate referred to in § 38.2-3133 means:
1. For all life insurance, the lesser of the average over a period ofthirty-six months and the average over a period of twelve months, ending onJune 30 of the calendar year next preceding the year of issue, of Moody'sCorporate Bond Yield Average - Monthly Average Corporates, as published byMoody's Investors Service, Inc.
2. For single premium immediate annuities and for annuity benefits involvinglife contingencies arising from other annuities with cash settlement optionsand guaranteed interest contracts with cash settlement options, the averageover a period of twelve months, ending on June 30 of the calendar year ofissue or year of purchase, of Moody's Corporate Bond Yield Average - MonthlyAverage Corporates, as published by Moody's Investors Service, Inc.
3. For other annuities with cash settlement options and guaranteed interestcontracts with cash settlement options, valued on a year-of-issue basis,except as stated in subdivision 2 of this section, with guarantee duration inexcess of ten years, the lesser of the average over a period of thirty-sixmonths and the average over a period of twelve months, ending on June 30 ofthe calendar year of issue or purchase, of Moody's Corporate Bond YieldAverage - Monthly Average Corporates, as published by Moody's InvestorsService, Inc.
4. For other annuities with cash settlement options and guaranteed interestcontracts with cash settlement options, valued on a year-of-issue basis,except as stated in subdivision 2 of this section, with guarantee duration often years or less, the average over a period of twelve months, ending on June30 of the calendar year of issue or purchase, of Moody's Corporate Bond YieldAverage - Monthly Average Corporates, as published by Moody's InvestorsService, Inc.
5. For other annuities with no cash settlement options and for guaranteedinterest contracts with no cash settlement options, the average over a periodof twelve months, ending on June 30 of the calendar year of issue orpurchase, of Moody's Corporate Bond Yield Average - Monthly AverageCorporates, as published by Moody's Investors Service, Inc.
6. For other annuities with cash settlement options and guaranteed interestcontracts with cash settlement options, valued on a change-in-fund basis,except as stated in subdivision 2 of this section, the average over a periodof twelve months, ending on June 30 of the calendar year of the change in thefund, of Moody's Corporate Bond Yield Average - Monthly Average Corporates,as published by Moody's Investors Service, Inc.
(Code 1950, § 38-394; 1952, c. 317, § 38.1-456; 1959, Ex. Sess., c. 43; 1962,c. 562; 1975, c. 215; 1979, c. 437; 1982, c. 227; 1986, c. 562.)
The reference interest rate referred to in § 38.2-3133 means:
1. For all life insurance, the lesser of the average over a period ofthirty-six months and the average over a period of twelve months, ending onJune 30 of the calendar year next preceding the year of issue, of Moody'sCorporate Bond Yield Average - Monthly Average Corporates, as published byMoody's Investors Service, Inc.
2. For single premium immediate annuities and for annuity benefits involvinglife contingencies arising from other annuities with cash settlement optionsand guaranteed interest contracts with cash settlement options, the averageover a period of twelve months, ending on June 30 of the calendar year ofissue or year of purchase, of Moody's Corporate Bond Yield Average - MonthlyAverage Corporates, as published by Moody's Investors Service, Inc.
3. For other annuities with cash settlement options and guaranteed interestcontracts with cash settlement options, valued on a year-of-issue basis,except as stated in subdivision 2 of this section, with guarantee duration inexcess of ten years, the lesser of the average over a period of thirty-sixmonths and the average over a period of twelve months, ending on June 30 ofthe calendar year of issue or purchase, of Moody's Corporate Bond YieldAverage - Monthly Average Corporates, as published by Moody's InvestorsService, Inc.
4. For other annuities with cash settlement options and guaranteed interestcontracts with cash settlement options, valued on a year-of-issue basis,except as stated in subdivision 2 of this section, with guarantee duration often years or less, the average over a period of twelve months, ending on June30 of the calendar year of issue or purchase, of Moody's Corporate Bond YieldAverage - Monthly Average Corporates, as published by Moody's InvestorsService, Inc.
5. For other annuities with no cash settlement options and for guaranteedinterest contracts with no cash settlement options, the average over a periodof twelve months, ending on June 30 of the calendar year of issue orpurchase, of Moody's Corporate Bond Yield Average - Monthly AverageCorporates, as published by Moody's Investors Service, Inc.
6. For other annuities with cash settlement options and guaranteed interestcontracts with cash settlement options, valued on a change-in-fund basis,except as stated in subdivision 2 of this section, the average over a periodof twelve months, ending on June 30 of the calendar year of the change in thefund, of Moody's Corporate Bond Yield Average - Monthly Average Corporates,as published by Moody's Investors Service, Inc.
(Code 1950, § 38-394; 1952, c. 317, § 38.1-456; 1959, Ex. Sess., c. 43; 1962,c. 562; 1975, c. 215; 1979, c. 437; 1982, c. 227; 1986, c. 562.)
The reference interest rate referred to in § 38.2-3133 means:
1. For all life insurance, the lesser of the average over a period ofthirty-six months and the average over a period of twelve months, ending onJune 30 of the calendar year next preceding the year of issue, of Moody'sCorporate Bond Yield Average - Monthly Average Corporates, as published byMoody's Investors Service, Inc.
2. For single premium immediate annuities and for annuity benefits involvinglife contingencies arising from other annuities with cash settlement optionsand guaranteed interest contracts with cash settlement options, the averageover a period of twelve months, ending on June 30 of the calendar year ofissue or year of purchase, of Moody's Corporate Bond Yield Average - MonthlyAverage Corporates, as published by Moody's Investors Service, Inc.
3. For other annuities with cash settlement options and guaranteed interestcontracts with cash settlement options, valued on a year-of-issue basis,except as stated in subdivision 2 of this section, with guarantee duration inexcess of ten years, the lesser of the average over a period of thirty-sixmonths and the average over a period of twelve months, ending on June 30 ofthe calendar year of issue or purchase, of Moody's Corporate Bond YieldAverage - Monthly Average Corporates, as published by Moody's InvestorsService, Inc.
4. For other annuities with cash settlement options and guaranteed interestcontracts with cash settlement options, valued on a year-of-issue basis,except as stated in subdivision 2 of this section, with guarantee duration often years or less, the average over a period of twelve months, ending on June30 of the calendar year of issue or purchase, of Moody's Corporate Bond YieldAverage - Monthly Average Corporates, as published by Moody's InvestorsService, Inc.
5. For other annuities with no cash settlement options and for guaranteedinterest contracts with no cash settlement options, the average over a periodof twelve months, ending on June 30 of the calendar year of issue orpurchase, of Moody's Corporate Bond Yield Average - Monthly AverageCorporates, as published by Moody's Investors Service, Inc.
6. For other annuities with cash settlement options and guaranteed interestcontracts with cash settlement options, valued on a change-in-fund basis,except as stated in subdivision 2 of this section, the average over a periodof twelve months, ending on June 30 of the calendar year of the change in thefund, of Moody's Corporate Bond Yield Average - Monthly Average Corporates,as published by Moody's Investors Service, Inc.
(Code 1950, § 38-394; 1952, c. 317, § 38.1-456; 1959, Ex. Sess., c. 43; 1962,c. 562; 1975, c. 215; 1979, c. 437; 1982, c. 227; 1986, c. 562.)
