The Guaranteed Income Annuity’s interest rate is calculated by utilizing a participation rate of the Secured Overnight Financing Rate, or SOFR rate. The SOFR rate is a benchmark rate used throughout the world. The SOFR rate is published daily by the Federal Reserve Bank of New York and is based on overnight transactions in the U.S. Treasury repurchase agreement (repo) market.
Thanks to SOFR, Atlantic Coast Life Insurance Company is able to offer our clients the potential to earn a rewarding return in a rising rate environment.
SOFR is a fully transaction-based rate reflecting roughly $1 trillion of daily transactions in a market with a diverse set of borrowers and lenders, including asset managers, banks, broker-dealers, corporate treasurers, insurance companies, money market funds, pension funds, and securities lending agents.
Effective 6/1/2023
10 Year Contract | ||||||||
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Premium Bonus |
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1st Year Rate | 2.75% (with subsequent purchase premium) | |||||||
Current Rate Guarantee | 1 Yrs | |||||||
Index/Benchmark | SOFR | |||||||
Participation Rate | 55% | |||||||
Optional Riders and Cost |
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The Secured Overnight Financing Rate (SOFR) data is calculated by using data obtained under license through application programming interface (API) issued by CME Group.
CME GROUP MARKET DATA IS USED UNDER LICENSE AS A SOURCE OF INFORMATION FOR CERTAIN ATLANTIC COAST LIFE INSURANCE COMPANY PRODUCTS. CME GROUP HAS NO OTHER CONNECTION TO ATLANTIC COAST LIFE INSURANCE PRODUCTS AND SERVICES AND DOES NOT SPONSOR, ENDORSE, RECOMMEND OR PROMOTE ANY ATLANTIC COAST LIFE INSURANCE COMPANY PRODUCTS OR SERVICES. CME GROUP HAS NO OBLIGATION OR LIABILITY IN CONNECTION WITH ATLANTIC COAST LIFE INSURANCE PRODUCTS AND SERVICES. CME GROUP DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF ANY MARKET DATA LICENSED TO ATLANTIC COAST LIFE INSURANCE AND SHALL NOT HAVE ANY LIABILITY FOR ANY ERRORS, OMISSIONS, OR INTERRUPTIONS THEREIN. THERE ARE NO THIRD-PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN CME GROUP AND ATLANTIC COAST LIFE INSURANCE COMPANY.
10 Year Contract |
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Premium Bonus | GLWB Rider: | 8.00% |
Legacy Rider: | 10.00% for issue ages under 71 5.00% for issue ages 71-80 3.00% for issue ages 81-85 | |
Accum Rider: | 10.00% for issue ages under 71 8.00% for issue ages 71-80 6.00% for issue ages 81-85 |
1st Year Rate | 1.00% (with subsequent purchase premium) |
Current Rate Guarantee | 2 Yrs |
Index/Benchmark | LIBOR |
Participation Rate | 65% |
Optional Riders and Cost | GLWB: | 1.25% fee years 1-5, 1.60% fee years 6-10 (10 year contract) |
Legacy Benefit Rider: | 1.25% years 1-5 1.60% fee years 6-10 (10 year contract) | |
Accumulation Rider: | No fee |
ATLANTIC COAST LIFE INSURANCE COMPANY IS A MEMBER OF THE A-CAP FAMILY