CoverageBenefit
objectCoverage ID is a unique system-generated identifier assigned to a specific coverage component within an insurance or annuity policy. It is used to track and differentiate each distinct benefit, rider, or coverage layer under a single contract, especially when performing or recording transactions
Net Benefit Amount refers to the actual amount payable to a beneficiary or policyholder after all applicable deductions have been applied to the gross or base benefit amount. It represents the final disbursed value for a given coverage benefit, such as a claim payout, death benefit, or living benefit
Gross Benefit Amount refers to the total contractual benefit payable under a specific coverage or rider before any deductions are applied. It represents the original, full value of the benefit promised by the insurance policy (e.g., death benefit, living benefit, or rider payout).
PayoutType
stringAllowed values:LUMPSUMFIVEYEARDEFERRALSPOUSALCONTINUATION
PayoutInformation
objectAllowed values:LUMPSUMFIVEYEARDEFERRALSPOUSALCONTINUATION
TransactionFundAllocation
objectAllowed values:PRORATADOLLARSPECIFYPERCENTAGESPECIFIEDFUNDSSPECIFIEDSEGMENTSDEFAULTPECKINGORDEREARNINGSONLYSPECIFICFUNDPERCENTAGEFIXEDONLYVARIABLEONLY
FundDistributionSegment
objectA unique identifier assigned to a particular segment for a specific fund account within the investment structure
Example:segment1
The current value of the particular segment for a specific fund account within the investment structure. The current amount of the segment, considering any earnings, withdrawals, or adjustments due to transaction
Example:1000
The specific amount or percentage requested for withdrawal, transfer, or reallocation from the particular segment selected for a fund.This amount will be utilized when allocation option is selected as specified segments
Example:100