Life Innovators FIA Rate Index

This index is intended to track the weekly Cap and Participation Rate for a 1-year point-to-point S&P 500 crediting strategy that would be offered in a market-consistent Fixed Index Annuity (FIA). We calculate these rates using the standard Black-Scholes formula.

Black-Scholes Option Valuation Formula Parameters
Volatility – 12 month SPX implied volatility using 3rd party institutional data
Risk-free Rate – 12 month CME Term SOFR
Dividend Yield – Nasdaq Data Link
Assumed FIA Option Budget
Net Investment Earned Rate – Moody’s Baa Seasoned Corporate Bond Yield
Life insurer spread – 1%

Cap AccountPar Rate AccountCap AccountPar Rate Account
DateOption Budget0% Floor0% Floor-10% Floor-10% Floor
11/16/20224.91%9.69%46.58%18.21%74.85%
11/9/20225.45%11.30%48.85%21.26%77.27%
11/2/20225.29%10.79%47.83%20.51%76.61%
10/26/20225.37%11.16%48.19%21.00%76.71%
10/19/20225.39%11.23%47.31%21.24%75.51%
10/12/20225.18%10.69%45.19%20.41%73.54%
10/5/20224.89%9.77%45.26%18.90%74.56%
9/28/20224.97%9.96%45.12%18.95%73.68%
9/21/20224.63%9.18%43.21%17.97%72.66%
9/14/20224.56%8.91%45.73%17.38%73.39%
9/7/20224.51%8.89%45.12%17.75%76.25%
8/31/20224.33%8.28%42.86%16.45%73.10%
8/24/20224.34%8.38%44.85%16.63%75.91%
8/17/20224.13%7.91%44.00%15.93%75.28%
8/10/20224.07%7.94%42.83%16.26%75.63%
8/3/20224.20%8.27%44.72%17.22%75.21%
7/27/20224.08%7.84%42.76%16.05%75.2%
7/20/20224.24%8.40%42.76%17.21%75.2%
7/13/20224.23%8.28%42.05%17.30%73.7%
7/6/20224.32%8.66%43.18%18.38%77.1%
6/29/20224.34%8.73%42.47%18.48%75.5%
6/22/20224.33%8.75%42.83%17.99%75.6%
6/15/20224.43%8.75%42.83%17.99%75.6%