AFRs for December were recently announced – please note the new rates below:
December 2010 Rates
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|
Annual |
Semi-Annual |
Quarterly |
Monthly |
Short-term |
0.32% |
0.32% |
0.32% |
0.32% |
Mid-term |
1.53% |
1.52% |
1.52% |
1.52% |
Long-term |
3.53% |
3.50% |
3.48% |
3.47% |
The Section 7520 rate is 1.8 %.
*Pursuant to Internal Revenue Code 7520, the interest rate for a particular month is the rate that is 120 percent of the applicable federal midterm rate (compounded annually) for the month in which the valuation date falls. That rate is then rounded to the nearest two-tenths of one percent. For example, the rate that is 120 percent of the applicable federal rate (compounded annually) for January 1998 is 7.13 percent. That rate is then rounded to the nearest two-tenths of one percent or 7.2 percent for purposes of IRC 7520.
To learn more about National Insurance Brokerage, or our carriers and services, please contact:
Liam Loughrey (lloughrey@niblife.com, 407-455-7686)
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This advertisement is for insurance agents and financial professionals only; not for use with the public and does not apply to variable products. Variable products are processed thru our BD affiliate. National Insurance Brokerage, LLC is a Florida licensed life insurance agency that does business under the name NB Life Insurance Services, LLC in California, NB Life Insurance Services in Georgia, NIB Insurance Brokerage in New York, and NIB Insurance Brokerage, LLC in Texas.
Neither National Insurance Brokerage nor any of its affiliates offer tax or legal advice. Any case discussions are general in nature and are not intended to be construed as advice. Please consult financial professionals familiar with your personal situation prior to making any changes in your own investment strategy or insurance purchases.
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