Dynamic Valuation and NonForfeiture Interest Rate Calculations
Dynamic Valuation and NonForfeiture Interest Rate Calculations
Report through:
Date Prepared:
Mar-21
04/06/21
Current Year Averages Ending: June 2021
12 Month:
3.00%
36 Month: 3.55%
Prior Year Averages Ending: June 2020
12 Month:
3.35%
36 Month: 3.90%
The rates displayed on this sheet may not apply to contracts that are subject to a principle-based valuation.
LIFE INSURANCE CALCULATIONS
Projected 2022 Interest Rates
Val. Break Pt. Rate***
2021 Actual Interest Rates
Duration
Val*
NFF**
Lower
Higher
Duration
Val
10 or Less
3.25
4.00
2.38
11.79
10 or Less
3.25
10+ - 20
3.25
4.00
2.26
13.35
10+ - 20
3.25
More than 20
3.00
3.75
-0.94
9.63
More than 20
3.00
*Minimum change from previous year's rate is 50 basis points. **Function of Valuation Rate.
***These Columns reflect the average actual rate over the next 3 Months required to cause a 50 basis points change from the 2021 Actual Rate.
NFF** 4.00 4.00 3.75
The 2021 NFF was previously floored at 4.00% based on the 2020 Valuation Manual. The 2021 Valuation Manual modified the floor to the CVAT rate in IRS Code 7702.
ANNUITY CALCULATIONS
SINGLE PREMIUM IMMEDIATE ANNUITY
2020 Actual Valuation Interest Rate: 3.25%
Projected 2021 Valuation Interest Rate:
3.00%
Low Break Point:
2.74
High Break Point:
3.99
Duration 5 or Less 5+ - 10 10+ - 20 More than 20
5 or Less 5+ - 10 10+ - 20 More than 20
5 or Less 5+ - 10 10+ - 20 More than 20
SINGLE PREMIUM or ANNUAL PREMIUM DEFERRED ANNUITY : Issue Year Basis
Issue Year Basis: 2021 Projected
Cash
Future
Type A Break Pt.
A
B
C
Settlement Int. Guar.
Lower
Higher
3.00
3.00
3.00
2.74
3.99
3.00
3.00
3.00
Yes
Yes
2.70
4.03
3.00
3.00
3.00
2.58
4.15
3.00
3.00
3.00
2.26
4.47
3.00
3.00
3.00
2.78
3.95
3.00
3.00
3.00
Yes
No
2.74
3.99
3.00
3.00
3.00
2.66
4.07
3.00
3.00
3.00
2.38
4.39
3.00
3.00
N/A
N/A
3.00
3.00
2.74
3.99
No
Yes/No
2.70
4.03
2.58
4.15
2.26
4.47
Type C Break Pt.
Lower
Higher
2.38
4.39
2.38
4.39
2.26
4.47
1.94
4.79
2.46
4.27
2.46
4.27
2.38
4.39
2.10
4.63
N/A
N/A
Duration 5 or Less 5+ - 10 10+ - 20 More than 20
5 or Less 5+ - 10 10+ - 20 More than 20
SINGLE PREMIUM or ANNUAL PREMIUM DEFERRED ANNUITY : Change in Fund Basis
Change in Fund Basis: 2021 Projected
Cash
Future
Type A Break Pt.
A
B
C
Settlement Int. Guar.
Lower
Higher
3.00
3.00
3.00
2.82
3.91
3.00
3.00
3.00
Yes
Yes
2.82
3.91
3.00
3.00
3.00
2.74
3.99
3.00
3.00
3.00
2.54
4.19
3.00
3.00
3.00
2.86
3.87
3.00
3.00
3.00
Yes
No
2.82
3.91
3.00
3.00
3.00
2.78
3.95
3.00
3.00
3.00
2.58
4.15
Type C Break Pt.
Lower
Higher
2.46
4.27
2.46
4.27
2.38
4.39
2.10
4.63
2.54
4.19
2.54
4.19
2.46
4.27
2.26
4.47
INDIVIDUAL DEFERRED ANNUITY MINIMUM NONFORFEITURE VALUES
Five-Year Constant Maturity Treasury Rates (Based on averages of the published Monthly rates.)
12 Month Average Ending Sep 2020: 0.86%
For the Indicated Periods Ending Mar 2021: 12 Month - 0.41% 3 Month - 0.61% 1 Month - 0.82%
If one of the above rates is your basis, then the Minimum Nonforfeiture Interest Rate would be:
12 Month Average Ending Sep 2020: 1.00%
For the Indicated Periods Ending Mar 2021: 12 Month - 1.00% 3 Month - 1.00% 1 Month - 1.00%
2008 4.06%
2009 4.06%
HISTORICAL TAX INTEREST RATES*
2010
2011
2012
2013
2014
2015
2016
3.81%
3.46%
2.89%
2.16%
1.79%
1.68%
1.56%
*No longer applicable. Tax Interest Rates are for historical purposes only due to new tax laws.
(C) Copyright 2001-2021 Hause Actuarial Solutions, Inc. Telephone: (913) 685-2200 Fax: (913) 685-2205 Email: solutions@
2017 1.46%
2018 1.66%
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