As of the end of April 2024, the expected hedge cost is estimated to be 110 basis points (bps) for a hypothetical guaranteed lifetime withdrawal benefit (GLWB) on variable annuities (VAs) and 108 bps for registered index-linked annuities (RILAs), both down 14 basis points 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).