LoanSegment
objectA unique identifier assigned to each loan segment within the policy, representing a distinct loan transaction
Example:Loan1
Allowed values:PREFERREDNONPREFERREDSTANDARDLOANINDEXLOAN
Allowed values:FIXEDINDEXEDVARIABLEADJUSTABLE
Calculated loan interest amount for a policy Owner to Pay before Anniversary
Example:1000
The original amount borrowed against the policy, excluding interest
Example:1500
The outstanding amount of the loan, including accrued interest if applicable
Example:1500.72
Percentage of Account Value refers to a value that is calculated as a percentage of the total account value of an insurance or annuity contract. It is often used to determine allocations, fees, benefits, or charges that are based on how much money is currently held in the policy’s account value.
Example:1500.72
This amount represents the total portion of the policy’s account value that is used as collateral when a loan is taken against the policy. It is calculated as follows:Loan Collateral Amount = Loan Principal + Loan Collateral Accrued Interest When a policyholder takes a loan, this amount reflects the loaned portion of the account value that is set aside as collateral. Interest is applied to this collateralized amount at a specific rate as per the policy terms
Example:1500.72
TBD
The interest rate charged on the loan balance, which may be fixed or variable based on policy terms
Example:4.5
The interest rate charged to any collateralized portion of the policy’s cash value
Example:4
The interest accumulated on the outstanding loan balance that has not yet been paid
Example:0.72
The interest accumulated on the collateral portion of account value.
Example:0.16
The amount of loans taken against the policy in the current policy year
Example:1500
The accounting code used in the insurer’s general ledger system to track loan fund
Example:V2201
The date when the loan segment becomes active and enforceable within the policy
Example:2023-01-01
The date when the loan segment is fully repaid, closed, or no longer applicable
Example:2023-01-01
SurplusDistributionOption
stringThis is the Surplus Distribution type it can be PUA, Cash etc.
Allowed values:PAIDUPADDITIONCASH
AllocationSurplusDistribution
objectA unique identifier assigned to each surplus distribution within the policy.
Example:s1
This is the Surplus Distribution type it can be PUA, Cash etc.
Allowed values:PAIDUPADDITIONCASH
Surplus Distribution Amount that is calculated and credited.
Example:1000
Cash Value component for Paid-Up Addition purchased with Surplus Distribution.
Example:1500
Surplus Distribution buys small chunks of additional paid-up coverage. This is that coverage component.
Example:1500.72
Distribution
objectAllowed values:INVESTMENTFUNDINVESTMENTMODELCHARGEDEDUCTIONDEFAULTWITHDRAWALINTERESTRATERENEWAL
Elect from available … If Owner picks and Model as an investment option
Example:TBD
The corresponding Model Id of the elected model
Example:TBD
Show Child Parameters
Show Child Parameters
Show Child Parameters
Show Child Parameters
Show Child Parameters
PolicySnapshotSurplusDistribution
objectThis is Cumulative Surplus Distribution Amount
Example:1000
The total Cash Value of all the Paid-Up Additions that currently exist on the policy. This is the value available for surrender on the policy that is linked to the Paid-Up Additions purchased.
Example:1500
The total coverage of all the Paid-Up Additions that currently exist on the policy. This is the value of the additional coverages that were purchased with the dividend as a Paid-Up Addition.
Example:1500.72