NAIC RBC Calculator
Life / fraternal · 2026 bonds · 2027 collateral-loan comparison
Choose an asset type and enter values in USD. Collateral loans show the 2026 charge alongside the adopted year-end 2027 treatment.
Investment positions
Draft stays in this browser.
Input guide and supported scope
For bonds, use the documented statutory classification and NAIC designation. A CRA rating or product name alone does not establish the applicable treatment. For collateral loans, choose the primary collateral type and enter loan BACV, collateral fair value, and independent verification status.
Open Stress collateral value for a NAV decline and minimum paydown calculation. Valuation and eligibility records supporting evidence, and Calculation details shows formulas and sources. Collateral-loan comparisons assume the entered BACV qualifies for Schedule BA treatment. The 2026 factor is 6.8%. The 2027 factor uses the printed LR008 OC bands; No or Unknown verification receives the maximum factor. Collateral below loan BACV triggers an admissibility review message.
Open each row’s evidence fields to record issuer, classification support, designation source, and optional yield. For CLO debt, also confirm BSL status and current tranche thickness when requested.
“Inputs complete” means the supported investment inputs are present. A base charge may be available while surcharge treatment is unresolved. Missing results are excluded from the base subtotal; the combined total is withheld until every position is resolved.
CSV imports append up to 500 positions per draft. Use the template headers. Invalid files leave your existing rows unchanged; incomplete rows can be imported for review. Current CSV templates include collateral-loan inputs, NAV stress and valuation support; original bond-only and Phase 2 templates also import. Use classification collateral_loan for loans; collateral_type partnership, residual, or other; independent_verification yes, no, or unknown. Bond classification values remain non_clo, clo, or unsupported; designation basis is documented or assumption. Drafts are stored only in this browser and are not uploaded.
Factors: NAIC 2026-12-IRE MOD, LR002, pages 7–8. Bond rule set: life-2026-base-v1.0. Collateral-loan rules, boundary convention and sources. Full precision is retained for calculations; displayed USD amounts are rounded to cents.
Component-input estimate using the verified 2025 aggregation baseline. Enter supplied post-tax component amounts in USD. An optional loan bridge applies the adopted 2027 treatment as a sensitivity on this baseline. Full filing equivalence is not established.
Insurer baseline
2027 loan rule-change bridge (optional)
Start with a complete insurer baseline above. This bridge assumes the baseline already holds the selected loan in C1o. It changes the loan’s treatment to the adopted 2027 rules while keeping BACV, all other components, and funding unchanged.
The 2027 base charge receives the prescribed 21% LR030 tax factor and enters C1cs. Applying replaces the current scenario, with zero cash sources and uses. Undo restores the prior scenario. The applied loan is a fixed snapshot; refresh and review again after changing Investment. Insurer estimates retain the verified 2025 aggregation formula and a 2026 baseline. This is not a 2027 filing forecast.
Adopted tax and component mapping: 2025-16-L MOD, LR030–LR031, pages 7–8. Purchases, disposals, paydowns and funding changes require a separately supported scenario.
Investment sensitivity
Load a bond or CLO debt position from Investment, then change its exposure, designation, or tranche thickness. Collateral-loan comparisons appear in Investment.
Annual investment economics
Enter two sets of assumptions. Amounts are annual USD; rates are annual percentages. Attributed capital is a management input. No capital amount is inferred from a pre-tax base charge.
Input status
Economics formulas and assumptions
Interest income = exposure × yield. Funding cost = funded balance × funding rate. Pre-loss earnings = interest income + annual fees − funding cost − operating expense. Expected loss = exposure × expected loss rate. Risk-adjusted earnings = pre-loss earnings − expected loss.
Each earnings measure is reduced by tax on positive earnings only; no tax benefit is recognized for losses. Pre-loss return = after-tax pre-loss earnings / attributed capital. Risk-adjusted return = after-tax risk-adjusted earnings / attributed capital. A zero capital denominator produces no return percentage.
These are annual management economics, with no compounding, exit value, principal amortization or IRR. All tax rates are user assumptions for earnings and do not alter NAIC capital factors.
Saved insurer comparisons
Capture completed Insurer Impact inputs to compare transactions or stresses. Each snapshot keeps its assumptions and historical aggregation basis.
Compare selected filing lines with an independent 2026 reference case. These checks use adopted amendments. Full filing reconciliation is open pending the consolidated package, upstream schedules, and reference cases.
Validation status · October 19, 2026
All 63 automated checks passed for 2026 bonds, collateral-loan comparisons, NAV stress, paydowns, the optional insurer bridge, imports/exports and keyboard handlers. Static labels and page references were checked. Full filing equivalence and live mobile/zoom verification remain open; the preview service is unavailable.