This report updates the maximum statutory valuation rate and nonforfeiture interest rate for calendar year 2024 issues of life insurance products and the maximum statutory valuation interest rates for calendar year 2023 issues of annuity products.
VM-22 was adopted with an effective date of January 1, 2018, and prescribes the interest rates to be used when valuing single premium immediate annuities and other similar contracts or supplementary contracts.
Section 2: Key results
Bond yields rose in the second half of 2022 and then remained between 5% and 5.5% in the first half of 2023.
Average of Moody's Seasonal Corporate Bond yields
Average of Moody's Seasonal Corporate Bond yields
Highlights include:
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| Title | File Type | File Size |
|---|---|---|
| Prescribed U.S. statutory and tax interest rates for the valuation of life insurance and annuity productsPDF | .8MB |
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