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Index

Milliman Hedge Cost Index April 2026

5 May 2026

As of the end of April 2026, the expected hedge cost is estimated to be 100 basis points (bps) for a hypothetical guaranteed lifetime withdrawal benefit (GLWB) on variable annuities (VA) and 96 bps for registered index-linked annuities (RILA), down 4 and 5 bps, respectively, from the previous month, driven by an increase 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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