Sumitomo Life Insurance Co., a significant life insurance coverage firm, has determined to boost the “expected interest rate”, which is the yield promised to policyholders for some particular person annuity insurance coverage, subsequent month, in gentle of the rising pattern in long-term rates of interest.
This is the primary time in 38 years that this firm has raised the assumed rate of interest on an insurance coverage product that pays insurance coverage premiums in installments, and it’s a transfer that symbolizes the strategic shift of life insurance coverage corporations in anticipation of rising long-term rates of interest.
Sumitomo Life Individual Annuity Insurance Scheduled Interest Rate to be Raised for the First Time in 38 Years | NHK
