This index is intended to track the weekly Cap and Participation Rate for a 1-year, point-to-point S&P 500 indexed crediting strategy that would be offered in a market-priced Indexed UL product using the following parameters calculated on the specified date:
While no methodology can perfectly reflect the many factors that play into each carrier’s decision about how to set caps and participation rates, this index can serve as a check on what is “fair” in today’s market.
The cap below assumes a 100% participation rate. The participation rate below assumes no cap.
| Date | Option Budget | Market Cap | Market Par Rate | 10% Cap Price |
| 6/4/2020 | 2.82% | 5.3% | 33% | 4.9% |
| 5/27/2020 | 2.82% | 5.2% | 32% | 5.0% |
| 5/20/2020 | 2.91% | 5.4% | 32% | 5.0% |
| 5/13/2020 | 3.09% | 5.8% | 28% | 5.1% |
| 5/6/2020 | 3.04% | 5.8% | 28% | 5.0% |
| 4/29/2020 | 2.83% | 5.3% | 30% | 5.0% |
| 4/22/2020 | 2.83% | 5.4% | 25% | 5.0% |
| 4/16/2020 | 2.78% | 5.3% | 26% | 4.9% |
| 4/9/2020 | 3.15% | 6.1% | 30% | 4.9% |
| 4/2/2020 | 3.30% | 6.5% | 26% | 4.9% |
| 3/25/2020 | 3.84% | 8.0% | 34% | 4.7% |
| 3/18/2020 | 3.73% | 7.0% | 23% | 5.2% |
| 3/12/2020 | 3.01% | 5.9% | 24% | 4.9% |
| 3/4/2020 | 2.89% | 5.3% | 42% | 4.8% |
| 2/26/2020 | 2.96% | 5.4% | 43% | 4.8% |
| 2/20/2020 | 3.01% | 5.8% | 52% | 4.5% |
| 2/5/2020 | 3.11% | 5.9% | 54% | 4.5% |
| 1/29/2020 | 3.12% | 5.8% | 53% | 4.7% |
| 1/23/2020 | 3.17% | 5.9% | 55% | 4.6% |
| 1/16/2020 | 3.22% | 6.1% | 56% | 4.5% |
| 01/08/2020 | 3.27% | 6.2% | 55% | 4.6% |
| 01/02/2020 | 3.30% | 6.2% | 55% | 4.6% |
| 12/18/2019 | 3.28% | 6.1% | 54% | 4.7% |
| 12/13/2019 | 3.23% | 6.0% | 52% | 4.7% |
| 12/3/2019 | 3.30% | 5.9% | 50% | 4.9% |
| 11/27/2019 | 3.26% | 6.0% | 53% | 4.7% |
| 11/20/2019 | 3.34% | 6.2% | 53% | 4.7% |
| 11/13/2019 | 3.40% | 6.4% | 53% | 4.7% |
| 10/31/2019 | 3.35% | 6.2% | 54% | 4.6% |
| 10/24/2019 | 3.30% | 6.1% | 52% | 4.7% |
| 10/16/2019 | 3.34% | 6.2% | 52% | 4.8% |
| 10/9/2019 | 3.20% | 5.8% | 46% | 5.0% |
| 10/2/2019 | 3.24% | 6.0% | 46% | 4.9% |
| 9/24/2019 | 3.28% | 6.0% | 48% | 4.9% |
| 9/4/2019 | 3.13% | 5.9% | 47% | 4.7% |
| 8/27/2019 | 3.17% | 5.9% | 45% | 4.8% |
| 8/21/2019 | 3.18% | 6.0% | 49% | 4.7% |
| 8/14/2019 | 3.28% | 6.3% | 48% | 4.7% |
| 8/8/2019 | 3.40% | 6.7% | 54% | 4.6% |
| 7/25/2019 | 3.61% | 7.0% | 62% | 4.5% |
| 7/9/2019 | 3.55% | 6.9% | 61% | 4.5% |
| 7/3/2019 | 3.54% | 6.9% | 63% | 4.5% |
| 6/26/2019 | 3.62% | 7.2% | 59% | 4.6% |
| 6/20/2019 | 3.72% | 7.7% | 64% | 4.4% |
| 6/12/2019 | 3.80% | 7.6% | 61% | 4.6% |
| 6/5/2019 | 3.83% | 7.6% | 61% | |
| 5/16/2019 | 3.97% | 7.8% | 64% | |
| 5/1/2019 | 3.99% | 7.7% | 67% | |
| 4/18/2019 | 4.03% | 7.8% | 67% | |
| 4/12/2019 | 3.96% | 7.8% | 63% | |
| 3/27/2019 | 3.98% | 7.6% | 63% | |
| 3/20/2019 | 4.14% | 8.5% | 68% | |
| 3/13/2019 | 4.12% | 8.2% | 66% | |
| 3/7/2019 | 4.18% | 8.2% | 64% | |
| 2/27/2019 | 4.11% | 8.2% | 65% | |
| 2/15/2019 | 4.13% | 8.3% | 61% | |
| 1/30/2019 | 4.22% | 8.9% | 62% | |
| 1/23/2019 | 4.32% | 8.9% | 61% | |
| 1/16/2019 | 4.35% | 8.8% | 61% | |
| 1/2/2019 | 4.36% | 9.2% | 55% |
