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
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The date when the loan segment is fully repaid, closed, or no longer applicable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
Distribution
objectAllowed values:INVESTMENTFUNDINVESTMENTMODEL
Elect from available … If Owner picks and Model as an investment option
Example:TBD
The corresponding Model Id of the elected model
Example:TBD
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PartyRole
stringAllowed values:OWNERPRIMARYBENEFICIARYCONTINGENTBENEFICIARYINSUREDPAYORPAYEEAGENTPRIMARYWRITINGAGENTPRIMARYSERVICINGAGENTADDITIONALSERVICINGAGENTADDITIONALWRITINGGAGENTTHIRDPARTYDESIGNEEJOINTOWNERCOVERAGEINSUREDASSIGNEEANNUITANTEXCHANGECOMPANYJOINTANNUITANTGRANTORTRUSTEEPOWEROFATTORNEYAUTHORIZEDSIGNATORYOTHERINTERESTEDPARTYCONTINGENTOWNERTHIRDPARTYADMINISTRATORCARRIER
CommunicationType
stringAllowed values:EMAILREGULARMAILPHONEFAXTEXTNOPREFERENCESPECIFIEDPOSTALOTHER
PolicyPartyRoles
objectThe Party Role ID is a unique identifier assigned to a specific role that a party (individual or entity) plays within an insurance or annuity contract. It serves to distinctly track and manage the relationship between the party and the contract, especially when a party may have multiple roles across different policies or within the same policy
Example:8
Allowed values:OWNERPRIMARYBENEFICIARYCONTINGENTBENEFICIARYINSUREDPAYORPAYEEAGENTPRIMARYWRITINGAGENTPRIMARYSERVICINGAGENTADDITIONALSERVICINGAGENTADDITIONALWRITINGGAGENTTHIRDPARTYDESIGNEEJOINTOWNERCOVERAGEINSUREDASSIGNEEANNUITANTEXCHANGECOMPANYJOINTANNUITANTGRANTORTRUSTEEPOWEROFATTORNEYAUTHORIZEDSIGNATORYOTHERINTERESTEDPARTYCONTINGENTOWNERTHIRDPARTYADMINISTRATORCARRIER
Party ID is a unique identifier assigned to a party (individual or entity) involved in an insurance or annuity contract. This identifier helps ensure accurate data exchange and tracking across insurance transactions
Example:Party_PI_1
The type of relationship to the party
Allowed values:TRUSTEETRUSTEEOFMINORTRUSTEEOFINCOMPETENTPOWEROFATTORNEYCONTROLLINGPERSONOFENTITYBROTHERCHILDDAUGHTERDOMESTICPARTNEREXECUTORSFATHERFIANCEGRANDCHILDLIFEPARTNERMOTHERSISTERSONSPOUSESTEPFATHERSTEPMOTHERSELFLEGALGUARDIANBUSINESSBUSINESSASSOCIATEPARTNEREMPLOYERFORMERSPOUSEGRANDPARENTPARENTOWNERSIBLINGSTEPCHILDSTEPARENTOTHERAUNTGRANDFATHERGRANDMOTHERHUSBANDWIFEUNCLENIECENEPHEWESTATETRUSTGRANDSONGRANDDAUGHTERNONSPOUSECHILDRENEQUALLYCHILDRENPERSTIRPESPERSTIRPESSURVIVINGSPOUS
The type of relationship to the party
Allowed values:TRUSTEETRUSTEEOFMINORTRUSTEEOFINCOMPETENTPOWEROFATTORNEYCONTROLLINGPERSONOFENTITYBROTHERCHILDDAUGHTERDOMESTICPARTNEREXECUTORSFATHERFIANCEGRANDCHILDLIFEPARTNERMOTHERSISTERSONSPOUSESTEPFATHERSTEPMOTHERSELFLEGALGUARDIANBUSINESSBUSINESSASSOCIATEPARTNEREMPLOYERFORMERSPOUSEGRANDPARENTPARENTOWNERSIBLINGSTEPCHILDSTEPARENTOTHERAUNTGRANDFATHERGRANDMOTHERHUSBANDWIFEUNCLENIECENEPHEWESTATETRUSTGRANDSONGRANDDAUGHTERNONSPOUSECHILDRENEQUALLYCHILDRENPERSTIRPESPERSTIRPESSURVIVINGSPOUS
Date the Party was added to the Policy
Example:2023-01-01
Party Percentage refers to the proportion of ownership, benefits, or responsibility assigned to a party within an insurance or annuity contract. It is used to distribute policy ownership, benefit payouts, commission sharing, or annuity payments among multiple parties.
Example:12.1213
Date the Party was Terminated from the Policy
Example:2023-01-01
Allowed values:EMAILREGULARMAILPHONEFAXTEXTNOPREFERENCESPECIFIEDPOSTALOTHER
Deprecated - kept for backward compatibility. Use preferredAddressId under party section. The Preferred Address ID refers to the unique identifier of the address designated as the primary or preferred address for a given party when multiple addresses are associated with that individual or entity. This ensures consistent use of the correct address for communication, correspondence, and recordkeeping
Example:1
Deprecated - kept for backward compatibility. Use preferredEmailId under party section. The Preferred Email ID refers to the unique identifier of the email address designated as the primary or preferred email contact for an individual or entity when multiple email addresses are on file
Example:1
Deprecated - kept for backward compatibility. Use preferredPhoneId under party section. The Preferred Phone ID refers to the unique identifier of the phone number designated as the primary contact number for a given individual or entity when multiple phone numbers are associated with the same party
Example:1
Boolean 0 = No 1 = Yes to denote if the email is the preferred
Allowed values:true
Last Contact Date refers to the most recent date on which there was a direct or system-recorded interaction with a party (individual or entity) associated with a policy or contract. This party may be a policyholder, insured, beneficiary, payor, agent, or any other role relevant to life and annuity products.
Example:2023-01-01
The Beneficiary Share Method refers to the approach used to allocate the death benefit (or other payouts) among multiple beneficiaries listed under a policy or contract. It determines how the proceeds are divided in the event of the insureds death and is typically defined during policy setup or updated via a beneficiary change request.
Allowed values:PERSTIRPESDISTRIBUTION