AccountValueAttributes
objectCash Value Amount
Example:1000
The Account Value refers to the total cash value of a life insurance policy or annuity at the beginning of each transaction, including both loaned and unloaned amounts. It represents the policy’s accumulated value before deductions, withdrawals, or new transactions
Example:2000
The Current Account Value refers to the total cash value of a life insurance policy or annuity (including loaned and unloaned amounts) as of the last processed transaction. This value is used to determine the available account value (AV) for policyholders and is also the amount on which Fixed Interest is credited
Example:1500
Minimum Account Value
Example:500
Cash Value By Year
Example:200
Unloaned Account Value
Example:300
Loaned Account Value
Example:100
Cash Surrender Value
Example:800
The Net Amount at Risk (NAR) is the difference between the policy’s total death benefit and the policy’s account value (cash value). It represents the portion of the death benefit that the insurance company is at risk of paying out beyond the policyholder’s accumulated account value
Example:50
Deemed Cash Value Amount
Example:400
PolicyMetricsAttributes
objectInitial Payment Amount
Example:5000
The Initial Premium Applied Amount refers to the portion of the initial premium payment that is officially applied to the policy after processing. This amount determines when the policy becomes active and how funds are allocated within the contract
Example:4800
The Initial Premium Amount Received Date refers to the date when the insurance company`s home office officially receives the first premium payment for a life insurance policy or annuity contract. This date is crucial as it determines when the policy processing begins and may impact policy activation timelines
Example:2021-01-01
Gross Premium Amount Since Issue
Example:7500
Total Cumulative Premium Amount
Example:20000
MEC Authorization refers to the approval process required when a life insurance policy is classified as a Modified Endowment Contract (MEC). A MEC is a permanent life insurance policy that fails the IRS “7-Pay Test,” resulting in different tax treatment of policy loans and withdrawals. MEC Authorization is typically required from the policyholder before processing transactions that could convert the policy into a MEC, ensuring they understand the tax consequences
Allowed values:YESNO
Example:YES
The Projected Lapse Indicator is a forecast that indicates whether a life insurance policy is expected to lapse within the next policy year based on its current account value, premium payments, cost of insurance (COI), and other policy charges
Allowed values:YESNO
Example:YES
The Policy Gain Amount is the difference between the policy’s total account value and the cost basis. It represents the amount of gain that may be subject to taxation if withdrawn or surrendered
Example:3000
PolicyMetrics
objectShow Child Parameters
LoanAttributes
objectLoan Balance
Example:10000
Loan Principal
Example:8000
Payoff Balance
Example:7500
Maximum Available Loan
Example:20000
The Minimum Loan Amount refers to the smallest amount a policyholder can borrow against their life insurance policy’s cash value, as defined by the insurer. This limit ensures that administrative costs and processing fees are justified for each loan transaction
Example:1000
Last Loan Interest Amount
Example:200
Loan Interest Paid To Date
Example:800
Number of Loans
Example:2
The Loan Interest Method defines when policy loan interest is paid—either in advance (upfront) or in arrears (at the end of the loan period). This method affects how and when interest is charged, calculated, and added to the total loan balance
Allowed values:SimpleCompound
Example:Simple
Loan Amount Since Anniversary
Example:1500
Minimum Loan Payment Amount
Example:500
The Loan Repayment Type refers to how loan repayments are applied to a policy loan—whether interest is paid first or the principal is reduced first. This affects how the loan balance decreases over time and the total interest paid by the policyholder
Allowed values:RecurringOne-time
Example:Recurring