Wyoming § 26-6-206 - Computation of minimum standard for annuities; computation of minimum standard valuation by calendar year of issue.

§ 26-6-206. Computation of minimum standard for annuities; computation of minimum standard valuation by calendar year of issue.

I = .03 + W (R1 - .03) + W (R2 - .09);

I = .03 + W (R - .03)

Where R1 is the lesser of R and .09, R2 is the greater of R and .09, R is the reference interest rate defined in this subsection, and W is the weighting factor defined in this subsection;

GUARANTEE                     WEIGHTING

DURATION                     FACTORS

(YEARS)

10 or less .50

More than 10, but not more than 20 .45

More than 20 .35

For life insurance, the guarantee duration is the maximum number of years the life insurance can remain in force on a basis guaranteed in the policy or under options to convert to plans of life insurance with premium rates or nonforfeiture values or both which are guaranteed in the original policy;

.80

GUARANTEE                     WEIGHTING FACTOR

DURATION                        FOR PLAN TYPE

(YEARS)                        A B C

5 or less: .80 .60 .50

More than 5, but not more than 10: .75 .60 .50

More than 10, but not more than 20: .65 .50 .45

More than 20: .45 .35 .35

A B C

For annuities and guaranteed interest

contracts valued on a change in fund

basis, the factors shown in

subdivision (I) of this subparagraph

increased by: .15 .25 .05

A B C

For annuities and guaranteed interest

contracts valued on an issue year basis

(other than those with no cash settlement

options) which do not guarantee interest

on considerations received more than one

(1) year after issue or purchase and

for annuities and guaranteed interest

contracts valued on a change in fund

basis which do not guarantee interest

rates on considerations received more

than twelve (12) months beyond the valuation

date, the factors shown in subdivision (I)

of this subparagraph or derived in

subdivision (II) of this subparagraph

increased by: .05 .05 .05

Plan Type A: At any time policyholder may withdraw funds only (1) with an adjustment to reflect changes in interest rates or asset values since receipt of the funds by the insurance company, or (2) without such adjustment but in installments over five (5) years or more, or (3) as an immediate life annuity, or (4) no withdrawal permitted.

Plan Type B: Before expiration of the interest rate guarantee, policyholder may withdraw funds only (1) with an adjustment to reflect changes in interest rates or assets values since receipt of the funds by the insurance company, or (2) without such adjustment but in installments over five (5) years or more, or (3) no withdrawal permitted. At the end of interest rate guarantee, funds may be withdrawn without such adjustment in a single sum or installments over less than five (5) years.

Plan Type C: Policyholder may withdraw funds before expiration of interest rate guarantee in a single sum or installments over less than five (5) years either without adjustment to reflect changes in interest rates or asset values since receipt of the funds by the insurance company, or subject only to a fixed surrender charge stipulated in the contract as a percentage of the fund.