Net single premium
In computing the net single premium under paragraph (1)(B)—
(i)#
the mortality basis shall be that guaranteed under the contract (determined by reference to the most recent mortality table allowed under all State laws on the date of issuance),
(ii)#
interest shall be based on the greater of—
(I) an annual effective rate of 4 percent (3 percent for contracts issued before July 1, 1983 ), or
(II) the minimum rate or rates guaranteed upon issue of the contract, and
(ii)(I)#
an annual effective rate of 4 percent (3 percent for contracts issued before July 1, 1983 ), or
(ii)(II)#
the minimum rate or rates guaranteed upon issue of the contract, and
(iii)#
the computational rules of paragraph (2)(D) shall apply, except that the maturity date referred to in clause (ii) thereof shall not be earlier than age 95.