Rates of Mortality and Disability


A firm must determine the amount of the liability in respect of any category of contract, where relevant, on the basis of prudent rates of mortality and disability and any other decrement that take into account:

  1. (1) where the policyholder is an individual, the state in which he has his habitual residence; and
  2. (2) where the policyholder is not an individual, the state in which the establishment of the policyholder to which the commitment covered by the contract relates is situated.