Annuity Care® Guaranteed Interest Rates Changing 03/15/21

On March 15, 2021, the Guaranteed Interest Rate (GIR) for new issues of Annuity Care will change in some states. The GIR will decrease to 0.55% in approved states.

What isn’t changing: Current LTC fund rate
This change will ensure Annuity Care can offer the highest LTC value possible in low interest rate environments. At this time, the LTC fund will continue growing at the current rate of 1.25%.

Transition rules for GIR change

• Cash transactions: We must receive a completed application with full premium in the Home Office by end of business on Friday, March 12, to preserve current interest rates.
• Transfer/1035 transactions: We must receive a completed application with completed transfer or 1035 paperwork no later than Friday, March 12. All pending transfers or 1035s must be fully funded by Friday, May 14, 2021, to preserve current interest rates.

Note: The Guaranteed Interest Rate applies to both the cash and LTC fund values. The new business interest rates for approved states effective March 15, 2021, will be:

• LTC fund   1.25%
• Cash fund  0.55%*

* Current cash fund rate varies by state