insurance interest rate
Defined in 1 place of the United States Code.
The term "insurance interest rate" means, with respect to any contract issued in any calendar year, the lesser of—
(i) the section 7702 valuation interest rate for such calendar year (or, if such calendar year is not an adjustment year, the most recent adjustment year), or
(ii) the section 7702 applicable Federal interest rate for such calendar year (or, if such calendar year is not an adjustment year, the most recent adjustment year).
Source
- 2020–present26 U.S.C. § 7702Internal Revenue Code · Life insurance contract defined · for purposes of this section