Interest Rate Notice:
In response to the current interest rate environment, new business interest rates for Annuity Care® and Annuity Care II/III will be decreasing effective September 15, 2014.
The new rates will be as follows:
Annuity Care
- Long-Term Care Fund: 1.50%
- Cash Fund: 1.20%
- Cash Fund Maximizer Option: 1.20%
Annuity Care II/III
- Long-Term Care Accumulated Value (LTCAV): 2.20%
- Accumulated Value (AV): 1.60%
Important: please take a moment to update these interest rates in your State Life software. To do so, open the software and click “Configure” then “Interest Rates” on the tool bar at the top of the screen. Select the “Annuity Care /Legacy Care” tab and input the new interest rates accordingly (single life and joint life interest rates are the same).
Current new business rates may be preserved based on the method of funding:
- Cash Transactions: We must receive a completed application with full premium in the Home Office by the end of business on Friday, September 12, to preserve the current interest rates.
Transfer/1035 Transactions: We must receive a completed application with completed transfer or 1035 paperwork no later than Friday, September 12. All pending transfers or 1035s must be fully funded by Friday, November 14, to preserve the current interest rates.