The Policy Number is a unique identifier assigned to a life insurance or annuity contract by the insurance carrier. It serves as the official reference number for tracking, managing, and servicing the policy throughout its lifetime

The last name of the party

Defines Party type example individual or Organization or Trust. For Insured and Annuitant this should always be Individual

The date of birth of the party

The Policy Issue Date, also known as the Policy Launch Date, is the date when the insurance company officially issues the policy to the client. This occurs after the application is approved, the insured accepts the offer, and payment information is provided. It marks the formal activation of the policy and triggers policy delivery

The Plan Code is a carrier-assigned unique identifier used to distinguish a specific product, rate structure, and version of a life insurance or annuity policy. It ensures accurate policy tracking, pricing, and administration

The Policy Issue State refers to the U.S. state where a life insurance or annuity contract was issued. This state determines regulatory oversight, tax implications, and policyholder protections based on state insurance laws

The Policy Maturity Date refers to the date when a life insurance policy reaches its maturity or an annuity contract reaches its maximum annuitization age. It is based on the Policy Start Date and determines when benefits become payable or coverage ends

The Account Surrender Value refers to the amount an insurance company pays to the policyholder when they voluntarily cancel (surrender) their life insurance policy or annuity before its maturity or death benefit payout. This value is determined after deducting surrender charges, outstanding loans, and applicable fees from the policy’s total account value