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Policy

Status

string

Allowed values:ACTIVETERMINATEDPENDINGSUSPENDED

RiderParticipant

object
insuredIdstring

A unique identifier assigned to the insured individual within the system who was covered under this rider

Example:Party_PI_1

insuredAgeAtIssuenumber(int32)

The age of the insured at the time the rider was issued

Example:50

Example

FlatExtra

object
flatExtraTypestring

A Flat Extra is an additional dollar amount added to the base premium for a life insurance policy due to increased risk factors. Insurers apply Flat Extras on top of standard risk classifications (e.g., Preferred, Standard, or Substandard ratings).Flat Extras can be classified into two types “Temporary Flat Extra” and “Permanent Flat Extra”

Allowed values:TEMPORARYPERMANENT

flatExtraDurationnumber(int32)

The Flat Extra Duration refers to the length of time a Flat Extra premium charge is applied to a life insurance policy. This duration depends on whether the Flat Extra is temporary or permanent, and it is determined by the insurer based on the risk factor associated with the insured

flatExtraAmountnumber(double)

The Flat Extra Amount refers to an additional charge per $1,000 of coverage that an insurer applies to a life insurance policy due to an increased risk factor. This extra cost is added on top of the standard premium and can be temporary or permanent, depending on the nature of the risk

flatExtraStartDatestring(date)

The Flat Extra Start Date refers to the date when an additional, fixed premium charge (Flat Extra) begins on a life insurance policy. This charge is typically applied due to an increased underwriting risk, such as hazardous occupations, high-risk hobbies, or medical conditions

Example:2023-01-01

Example

PartyRiderParticipant

object
partyIdstring

A unique identifier assigned to the party insured within the system who was covered under this rider

Example:Party_PI_1

partyAgeAtIssuenumber(int32)

The age of the insured at the time the rider was issued

Example:50

riskClassstring

The Risk Class refers to the underwriting category assigned to an applicant based on their health, lifestyle, and medical history, which determines their premium rates for a life insurance policy. Insurers use risk classifications to assess mortality risk and price policies accordingly.

Allowed values:ULTRANONTOBACCOELITENONTOBACCOPREFERREDNONTOBACCOSTANDARDNONTOBACCOSTANDARDTOBACCOSTANDARDAGGREGATESUBSTANDARDNONTOBACCOSUBSTANDARDTOBACCOSTANDARDPLUSNONTOBACCOPREFERREDTOBACCOSTANDARDCONVERSIONTOBACCOSTANDARDCONVERSIONNONTOBACCO

substandardRatingstring

A Substandard Rating (also called Table Rating) is assigned to applicants who do not qualify for Standard or Preferred risk classes due to health conditions, lifestyle risks, or medical history. This rating results in higher premium costs because the insured presents a greater mortality risk.

Allowed values:TABLEATABLEBTABLECTABLEDTABLEETABLEFTABLEGTABLEHTABLEITABLEJTABLEKTABLELTABLEMTABLENTABLEOTABLEPNONETABLE

flatExtraarray[object]
Show Child Parameters
Example

RiderCharge

object
riderExerciseChargenumber(double)

One Time Rider Charge that will be Applied upon Rider Activation

riderExerciseChargeRatenumber(double)

The rate or percentage applied to calculate the charge for exercising the rider

Example