--- title: "TestValues" url: "https://developers.zinnia.com/apis/policy-service-0-1-0/versions/8306e031-b41c-452a-a7ed-d73d65602086/schemas/TestValues" --- > Full API specification: https://developers.zinnia.com/apis/policy-service-0-1-0/versions/8306e031-b41c-452a-a7ed-d73d65602086.md # TestValues ## OpenAPI definition ```yaml openapi: 3.0.0 info: title: Policy Service version: 0.0.21 servers: - url: https://qa.api.zinnia.io components: schemas: GuidelinePremium: type: object properties: guidelinePremiumTestDate: type: string description: The Guideline Premium Test (GPT) Date refers to the last date on which the policy was tested to ensure compliance with the IRS`s Guideline Premium Test (GPT) for life insurance policies. This test ensures that the policy maintains its tax-advantaged status as a life insurance contract and does not become a Modified Endowment Contract (MEC). format: date example: 2023-01-01 definitionOfLifeInsurance: $ref: "#/components/schemas/DefinitionOfLifeInsurance" guidelineSinglePremium: type: number description: The Guideline Single Premium (GSP) refers to the maximum single premium payment that can be made into a life insurance policy without violating the IRS`s Guideline Premium Test (GPT). It is used to ensure that the policy qualifies as life insurance and maintains its tax-advantaged status format: double example: 65068.27 guidelineLevelPremium: type: number description: The Guideline Level Premium (GLP) is the maximum level (annual or periodic) premium that can be paid into a life insurance policy while maintaining compliance with the IRS`s Guideline Premium Test (GPT). It ensures that the policy remains classified as life insurance and retains its tax-advantaged status format: double example: 4695.39 guidelinePremiumLimit: type: number description: The Guideline Premium Limit represents the remaining cumulative amount of premium that can be paid into a life insurance policy over its lifetime without violating the IRS’s Guideline Premium Test (GPT). It helps ensure the policy maintains its tax-advantaged status as life insurance under Section 7702 of the Internal Revenue Code format: double example: 4695.39 guidelinePremiumLimitBreached: type: boolean description: Indicates whether the policy has breached the guideline premium limit. amountExcessToGuideline: type: number description: The Amount Excess to Guideline refers to the excess premium amount paid into a life insurance policy beyond the IRS-imposed limits under the Guideline Premium Test (GPT). This excess must be reimbursed or adjusted to ensure the policy maintains its tax-advantaged status and does not become a Modified Endowment Contract (MEC) format: double example: 0 totalGuidelineLevelPremiumSinceIssue: type: number description: The Total Guideline Level Premium (GLP) Since Issue refers to the cumulative sum of all guideline level premiums allowed from the policy’s issuance through the current policy anniversary date. It ensures that the policy remains compliant with the IRS Guideline Premium Test (GPT) and maintains its life insurance tax-advantaged status format: double example: 4695.39 ModifiedEndowmentContract: type: object properties: modifiedEndowmentContractTestDate: type: string format: date description: The MEC Test Date refers to the last date on which the life insurance policy was tested to determine whether it qualifies as a Modified Endowment Contract (MEC) under IRS regulations. This date is updated whenever a new MEC test is performed, ensuring the policy remains compliant with federal tax rules example: 2023-01-01 amountExcessToModifiedEndowmentContract: type: number format: double description: The Amount Excess to MEC refers to the excess premium amount paid into a life insurance policy beyond the IRS-imposed Modified Endowment Contract (MEC) limit. This excess must be reimbursed, adjusted, or restructured to prevent the policy from becoming a MEC, which would alter its tax treatment example: 0 modifiedEndowmentContractStatusDate: type: string format: date description: The MEC Status Date refers to the exact date when a life insurance policy is classified as a Modified Endowment Contract (MEC) or confirmed as non-MEC. This date is critical for determining how future withdrawals and policy loans will be taxed example: 2023-01-01 modifiedEndowmentContractStatus: type: boolean description: The MEC Status indicates whether a life insurance policy has been classified as a Modified Endowment Contract (MEC) under IRS regulations. This status determines the tax treatment of withdrawals, loans, and distributions from the policy sevenPayTestBasis: type: number format: double description: The 7-Pay Test Basis refers to the total cumulative premium paid into a life insurance policy during the first seven years (the 7-pay period), as measured against the IRS 7-Pay Test limit. This amount is used to determine whether the policy qualifies as a life insurance contract or is classified as a Modified Endowment Contract (MEC). example: 198 sevenPayPremium: type: number format: double description: The 7-Pay Premium refers to the maximum allowable premium that can be paid into a life insurance policy during the first seven years without triggering Modified Endowment Contract (MEC) status. It ensures that the policy remains a tax-advantaged life insurance contract rather than an investment vehicle example: 19807.51079 sevenPayStartDate: type: string format: date description: The 7-Pay Start Date / Material Change Date refers to the date when the 7-Pay Test period begins. This is initially set at policy issuance (matching the Policy Start Date) and resets whenever a material change occurs that affects the policy’s funding limits example: 2023-01-01 sevenPayPeriod: type: string format: date description: "The 7-Pay Period refers to the time frame during which the policy must comply with the 7-Pay Test to avoid Modified Endowment Contract (MEC) status. It starts on the 7-Pay Start Date (initially set at policy issuance) and lasts for seven years. The 7-Pay Period Expiration Date is calculated as: 7-Pay Expiration Date=7-Pay Start Date+7 Years" example: 2030-01-01 sevenPayLimit: type: number format: double description: The 7-Pay Limit refers to the maximum total premium that can be paid into a life insurance policy within the first seven years without triggering Modified Endowment Contract (MEC) status. It is the benchmark used in the 7-Pay Test to determine whether a policy remains a tax-advantaged life insurance contract example: 0 yearInPeriod: type: integer format: int32 description: The Year in Period refers to the current year within the seven-year time frame of the 7-Pay Test. It is crucial because the 7-Pay Limit increases each year, and the test is updated annually to ensure the policy remains within IRS limits example: 0 unnecessaryPremium: type: number format: double description: The Unnecessary Premium refers to the amount of premium that exceeds the limit set by the Nonforfeiture Premium Test (NPT Test). If premium payments are higher than the NPT limit, this amount is flagged as unnecessary premium, which may need to be refunded, adjusted, or redirected example: 232.12 DefinitionOfLifeInsurance: type: string enum: - GPT - CVAT TestValues: type: object properties: guidelinePremium: $ref: "#/components/schemas/GuidelinePremium" modifiedEndowmentContract: $ref: "#/components/schemas/ModifiedEndowmentContract" ```