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Index

Milliman Hedge Cost Index August 2025

5 September 2025

As of end of August 2025, the expected hedge cost is estimated to be 105 bps for a hypothetical lifetime withdrawal benefit (GLWB) on variable annuities (VA) and 102 bps for registered index-linked annuities (RILA), stayed unchanged and down 1 basis point respectively from the previous month, driven by minimal changes in long-term interest rates. The Index Methodology provides additional details about the assumptions and methodologies underlying the Milliman Hedge Cost Index™ (MHCI).


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