State Regulators Vote to Cut Minimum Annuity Rate in Model Law
December 16, 2020 by Allison Bell
Members of the National Association of Insurance Commissioners (NAIC) voted Wednesday to lower the minimum nonforfeiture interest rate for individual deferred annuities to 0.15%, from 1%.
The minimum nonforfeiture rate is the lowest interest rate guarantee an insurer can use in an annuity contract to determine the annuity’s cash value.
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Originally Posted at ThinkAdvisor on December 10, 2020 by Allison Bell.
Categories: Industry Articles