Rate of Interest on Deferred Payment of Cash Surrendered Benefits, Effective July 1, 2026

State of Idaho DEPARTMENT OF INSURANCE BRAD LITTLE 700 West State Street, 3rd Floor DEAN L. CAMERON Governor P.O. Box 83720 Director Boise, Idaho 83720-0043 Phone 208-334-4250 Website: https://doi.idaho.gov Equal Opportunity Employer BULLETIN NO. 26-13 DATE: TO: FROM: July 29, 2026 All Life Insurance Companies Dean L. Cameron, Director SUBJECT: Rate of Interest on Deferred Payment of Cash Surrendered Benefits, Effective July 1, 2026 Idaho Code §§ 41-1927(3) and 41-1927A(3)(b) permit an insurer to defer the payment of any cash surrender value under a life insurance policy or individual deferred annuity when a policyholder requests payment upon surrender of the policy. If the insurer defers payment, these statutes require payment of interest to the policyholder on the deferred amount. Failure to tender payment within 30 days of a surrender request constitutes the insurer’s election to defer. The 30- day period begins on the date the insurer or its authorized agent or representative receives the surrender request. Effective July 1, 2026, insurers must pay a minimum interest rate of 8.875% on deferred payment of cash surrender values, pursuant to Idaho Code §§ 41-1927(3) and 41-1927A(3)(b). The interest rate is calculated annually by the Idaho State Treasurer, in accordance with Idaho Code § 28-22-104(2), and is effective July 1, 2026, through June 30, 2027. The Idaho State Treasurer publishes a new rate on or about July 1 of each succeeding year. Current and historical rates are available for review at the State Treasurer’s website: https://sto.idaho.gov/Banking/Legal-Rate-of-Interest. This Bulletin is not new law but is an agency interpretation of existing law, except as authorized by law or as incorporated into a contract. Any questions regarding this Bulletin can be directed to Deputy Director Wes Trexler at 208-334-4214 or weston.trexler@doi.idaho.gov.