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Interest Rate Update

2022-Apr-21 - Christopher H. Hause

Statutory valuation interest rates for life insurance will remain unchanged for 2023, with the "Whole Life" rate at 3.00%. Given the current economic environment, a move up in the near future seems more likely than a move down. It is clear that the 50 basis point tolerance for movements in the valuation rate will bring some stability to the rates.

Annuity valuation interest rates are generally expected to tick up 0-25 basis points after having steadily declined since 2009. Annuity rates are more volatile as a rule due to the lower tolerance for movements in the rates.