Attributes
objectCarrier Code
Example:carrierCode
Product Code
Example:productCode
The Product Type refers to the specific category of life insurance or annuity based on its structure, premium flexibility, cash value potential, and investment options. It determines how the policy functions, how premiums are paid, and whether the policy includes a cash accumulation component
Example:productType
The Product Name refers to the specific life insurance or annuity product selected by the contract owner at the time of policy issuance. It identifies the type of coverage, policy structure, and key features associated with the contract
Example:planName
Renewable Indicator
Example:renewableIndicator
Qualified Plan Type
Example:qualifiedPlanType
Pay To Year
Example:payToYear
The Policy Year refers to the number of years that have passed since the policy’s effective date. It is used to track policy duration, benefits, premium schedules, surrender charges, and other contractual provisions
Example:policyYear
The Policy Months refers to the number of months that have passed since the policy’s effective date. It is used to track policy duration, premium schedules, benefits, and contractual provisions on a monthly basis
Example:monthOfYear
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
Example:policyNumber
The Policy Status refers to the current standing of a life insurance or annuity contract, indicating whether it is active, inactive, lapsed, or terminated. The status determines whether the policyholder has coverage and whether policy benefits remain in effect
Example:policyStatus
The Issue Type refers to the classification of how a life insurance or annuity contract is issued, based on underwriting approval, policy structure, or specific issuance conditions. It determines whether the policy was fully underwritten, simplified, guaranteed issue, or part of a group plan
Example:issueType
Residence State
Example:residenceState
Jurisdiction
Example:jurisdiction
Effective Date
Example:effectiveDate
Application Signed Date
Example:applicationSignedDate
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
Example:issueDate
The Contestability Start Date refers to the beginning of the contestability period, which is the time frame in which an insurance company can investigate and deny a claim if material misrepresentations or fraud are found in the application
Example:contestabilityStartDate
The Contestability End Date is the date when the contestability period expires, meaning the insurer can no longer deny a claim based on misrepresentation or omission in the application, unless fraud is proven
Example:contestabilityEndDate
Policy Delivery Receipt Date
Example:policyDeliveryReceiptDate
The Initial Payment Amount Expiration Date refers to the deadline by which the initial premium payment must be made to keep the policy offer valid and ensure the policy goes into effect., if not received Policy will be Canceled due to no Premium Set at Issuance
Example:initialPaymentExpirationDate
The Next Policy Anniversary Date refers to the upcoming annual recurrence of the policy’s start date. It is based on the Policy Start Date and marks key policy milestones such as premium due dates, cash value updates, policy renewals, and benefit adjustments
Example:nextAnniversaryDate
The Next Policy Monthiversary Date refers to the same day of each month that corresponds to the Policy Start Date, marking the monthly recurrence of the policy. It is used for monthly premium payments, cost deductions, cash value calculations, and interest crediting
Example:nextMonthiversaryDate
Previous Anniversary Date
Example:previousAnniversaryDate
Previous Monthiversary Date
Example:previousMonthiversaryDate
Expiry Date
Example:expiryDate
Termination Date
Example:terminationDate
The Cost Basis Date refers to the date on which the cost basis value of a life insurance policy or annuity contract is calculated. The cost basis represents the total amount of after-tax money contributed to the policy or annuity and is used to determine the taxable portion of withdrawals, loans, or payouts
Example:costBasisDate
The Cost Basis refers to the total cumulative amount of after-tax premiums paid into a life insurance policy or annuity contract. It represents the non-taxable portion of withdrawals, policy loans, or surrenders, ensuring that policyholders are only taxed on gains above this amount
Example:costBasis
The Currency refers to the system of money in which a life insurance or annuity contract is denominated and transacted. It defines the monetary unit used for premium payments, policy benefits, withdrawals, and payouts
Example:currency
The Claim Approval Date is the date when an insurance company officially approves a claim for payment after verifying the claim details, policy coverage, and required documentation
Example:claimApprovalDate
The Certified Received Date refers to the date when the insurance company officially receives the certified death paperwork (such as a death certificate) required to process a life insurance claim. This date marks the beginning of the formal claims verification process
Example:certifiedReceivedDate
Loss Report Date
Example:lossReportDate
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