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2008 Federal Tax Interest Rate

2008-Feb-01 - Christopher H. Hause

The Applicable Federal Interest Rate (AFIR) for Year 2008 is 4.06%. This rate has been verified by Rev. Rul. 2007-70, and is to be used for computation of 2008 federal income tax basis life insurance reserves. The rate for each calendar year is the average of the last 60 months prior to the beginning of the calendar year of the Federal Mid-Term Interest Rate published monthly by the IRS. This is the first time in the last 3 years that the AFIR is higher than the Statutory rate (4.00%) for life insurance contract inforce more than 20 years.