Rider
objectTBD
Example:2023-01-01T12:00:00.000Z
Allowed values:BASERIDERBASEINCREASEINTEGRATEDRIDERRIDERINCREASEBENEFITDISCOUNTOTHERUNKNOWN
The specific name of the rider as designated by the insurance company. For example - Terminal Illness Accelerated Death Benefit
Example:Chronic Illness Accelerated Death Benefit Rider
Indicates the election status of the rider on the policy, specifying whether the policyholder has formally elected to include the rider
Example:ELECTED
A unique identifier or alphanumeric code assigned to the rider
Example:SBLCHR
Allowed values:APPROVEDDECLINED
This will be set to yes if there is no Child rider insured to support Unborn Child
Indicates whether the rider provides a qualified benefit under IRS or insurance regulations
Date on which Rider is selected and becomes effective on the policy
Example:2023-01-01
The date the policyholder elects to use or activate the rider benefit
Example:2023-01-01
The date on which the rider coverage ends/ is terminated
Example:2023-01-01
Allowed values:ACTIVETERMINATEDPENDINGSUSPENDED
An unique identifier assigned to the rider coverage within an insurance coverage or policy layer
Example:Rider_SBLCHR
The total benefit amount the rider provides (separate from the base policy’s coverage.)
The maximum benefit amount of the benefit base, policyholder can withdraw each year
The Total Benefit Amount represents the maximum guaranteed amount available under the annuity rider over the life of the contract/rider
The fixed percentage applied to the Rider Benefit Amount to calculate the annual guaranteed benefit amount
Example:100
Refers to a guaranteed payout to a beneficiary upon the death of the annuitant, regardless of the contract investment performance, as long as the annuity is in the accumulation phase. Used for Variable annuities
The Growth Income Benefit value represents the guaranteed income base established under a Guaranteed Minimum Income Benefit (GMIB) rider. It is used to calculate the lifetime income payments the annuitant is entitled to upon annuitization, regardless of the contract actual account value.
Amount that can be withdrawn without reducing the yearly or Lifetime rider benefit amount
Note - Use riderParticipants field instead of riderParticipant
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The number of times the additional benefit has been used.
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The highest percentage of the death benefit or face amount that can be taken for chronic illness coverage
Example:2.5
The maximum duration over which payments can be made under the rider ( in Months)
The current status of a claim filed under the rider
The date of the next scheduled review or re-evaluation of an ongoing claim (applicable for riders like chronic illness).
Example:2023-01-01
The date the benefit payout under the rider is to be disbursed to the policyholder or beneficiary
Example:2023-01-01
The amount paid under the rider benefit.(during a given payout cycle)
Deprecated - kept for backwards compatibility
The highest percentage of the policy’s face amount that can be accessed under the critical illness rider
The percentage of the benefit payable under Tier 1 of the critical illness structure (e.g., for mild conditions).
The maximum dollar amount payable under Tier 1 benefits
The percentage of the benefit payable under Tier 2(usually for more severe conditions.)
The maximum dollar amount payable under Tier 2 benefits.
The date on which the Tier 1 critical illness rider benefit payment is scheduled or was made
Example:2023-01-01
The amount of benefit paid under the Tier 1 critical illness
The date on which the Tier 2 critical illness rider benefit payment is scheduled or was made
Example:2023-01-01
The amount of benefit paid under the Tier 2 critical illness
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The remaining benefit amount for the rider. Incremented by Premiums and adjusted by withdrawals.
Example:10.51
Indicates whether the ADL benefit is utilised on the contract.
The total guaranteed value the contract owner is entitled to at the end of the GMAB holding period — assuming no disqualifying withdrawals or events.
Example:5.17
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
Allowed values:SINGLEJOINT
Ties to Withdrawal Reset Benefit % Annual Limit on Calender Processing if GMWB Anniversary Base reset is elected. Equals result of GMWB Benefit % equation box in Withdrawal tab (GMWB) Ku - Payout Factor Percentage of the benefit base that will be available for withdrawal each year
Example:1.23
GMWB Annual Limit, The total amount that can be withdrawn as a benefit of this rider in any given policy year, regardless of whether or not there is sufficient account value. It is also the annual limit on amounts that can be withdrawn without adversely affecting future annual and lifetime benefits from the rider.this amount will be impacted during Reset or Withdrawals or Premium events
Example:3.43
GMWB Annual Limit, The total amount that can be withdrawn as a benefit of this rider in any given policy year, regardless of whether or not there is sufficient account value. It is also the annual limit on amounts that can be withdrawn without adversely affecting future annual and lifetime benefits from the rider.this amount will be impacted during Reset or Withdrawals or Premium events
Example:5.45
The GMWB amount still available for withdrawal in the current Contract Year without creating an “Excess Withdrawal” situation.
Example:6.75
During the riders accumulation phase (before it is exercised), a hypothetical annual withdrawal limit is calculated and displayed on statements to inform the policyholder and assist in their decision to exercise the rider
Example:8.95
Indicator for whether the phase is Accumulation (not activated, benefit base is still accruing) or Income (annual limit calculated, benefit bases stop growing). Default value = Accumulation
Allowed values:ACCUMULATIONINCOME
User initiates the Reset, Variables product
Example:2023-01-01
Show Child Parameters
LoanInterestType
stringAllowed values:FIXEDINDEXEDVARIABLEADJUSTABLE
BankDetail
objectAccountValuebyPolicyYear
objectPolicyValues
objectShow Child Parameters
The Unloaned Portion of Account Value refers to the part of the total account value that is not affected by policy loans. Once a policy loan is taken, the total account value is split into loaned and unloaned portions, with the unloaned portion continuing to accrue interest and potential investment returns
The Loaned Portion of Account Value refers to the amount of a policy’s account value that is used as collateral for a policy loan. This amount is set aside from the Ending Account Value and is used to calculate loan interest accruals. The loaned portion is updated each time a new loan is processed
The Total Loan Accrued Interest refers to the amount of interest that has accumulated on a policy loan so far within the current year. This interest is added to the outstanding loan balance if it is not paid separately by the policyholder