The Coverage Name in a life insurance policy refers to the specific title or label assigned to a coverage type within the policy contract. It helps insurers, agents, and policyholders identify, classify, and manage different coverage components in a policy.

The Approved Coverage Amount refers to the specific amount of insurance coverage that has been approved by the insurer during the underwriting process. It represents the face amount (death benefit) the insurer has agreed to issue based on the applicant’s risk profile, health, and other underwriting criteria.

The Current Coverage Amount refers to the active or present death benefit or coverage value available under the policy at a specific point in time. It reflects any adjustments, policy changes, withdrawals, or loans that may have altered the original coverage amount.

The Original Coverage Amount refers to the initial face value or death benefit of a policy at the time of issuance before any policy modifications, withdrawals, loans, or benefit reductions. It represents the starting coverage amount agreed upon when the policy was first issued.

Low Death Benefit refers to the lowest possible death benefit guaranteed within each specific coverage component of a policy. This ensures that beneficiaries receive at least a minimum death benefit regardless of market performance, policy changes, or withdrawals.

The Coverage Effective Date refers to the date when an increase in coverage or a new coverage component officially takes effect in a life insurance policy. It marks the beginning of the insured’s eligibility for the new or increased benefits.

The Coverage Change Effective Date (for a decrease in coverage) refers to the date when the reduced coverage amount officially takes effect in a life insurance policy. It marks the point from which the new lower coverage amount applies.

Coverage Term refers to the number of years that a life insurance policy or specific coverage component is intended to remain in force, providing protection to the insured. It defines the planned duration of insurance coverage, after which the coverage may expire, renew, or convert, depending on the product type.

Rider name

A unique identifier or alphanumeric code assigned to the rider

Single or Joint Payout (not driven by Owners on the policy, even a jointly owned policy can have single as an option. Used in configuration to set different GMWB benefits for Single and Joint GMWB Amount Types.

An unique identifier assigned to the rider coverage within an insurance coverage or policy layer.

The total benefit amount the rider provides (separate from the base policy’s coverage.)

Note - Use riderParticipants field instead of riderParticipant

When true, indicates there is no named child rider insured and the rider is being used to cover an unborn child.

A Feature Indicator in life insurance and annuities refers to a binary flag (Yes/No, True/False, or Enabled/Disabled) that signifies whether a specific policy feature, rider, or benefit is included in the contract. It helps insurers, agents, and policyholders quickly identify which optional or standard benefits apply to a policy

The date when the loan segment becomes active and enforceable within the policy.

The date when the loan segment is fully repaid, closed, or no longer applicable.

The Period of Feature in life insurance and annuities refers to the duration for which a specific feature or benefit is available, active, or applicable within a policy or contract. It defines the time frame in which a feature can be used, exercised, or remains valid

The official business name of the specific fund account within the investment structure.

The percentage of total fund allocation assigned to a particular fund account.

The date when the loan segment becomes active and enforceable within the policy.