AXIS Module - Par Life

The AXIS Par Products Module is used to design and model traditional participating insurance products and attached dividend options and benefits. Uses include:

• Pricing and design
• Valuation
• Financial Statements
• Statistics on number of lives and total face amounts
• Cashflow projection and testing
• Surplus adequacy testing
• Required Surplus
• Embedded Value and appraisal
• Asset liability management
• Stochastic analysis
• Margin analysis
• Policyholder behavior modeling

Dividend options AXIS can model include:

• Paid in cash
• Applied to reduce premium
• Accumulated on deposit
• Buy term bonus additions
• Buy paidup additions and reversionary bonuses
• Enhancements to face amount through various combinations of term/paid up additions

AXIS can assist in product design by creating policyholder illustrations based on:

• Dividend scales generated from first principles using various dividend calculation formulas
• Cash values calculated using various reserve formulas including US non forfeiture rules
• Face amount enhancement levels generated to achieve selected cross-over points
• "Vanishing Premium" options with vanish durations defined or generated to meet specific criteria

Additionally the AXIS Par Products Module supports many reserves methods, a subset of these methods includes:

• Principles-Based Valuation (US)
• Policy Premium Method (PPM)
• US GAAP, SFAS 60
• CRVM
• Zillmer
• FPT for US tax reserve
• US GAAP (SFAS120)
• US GAAP, SFAS 97

Up to 6 reserve bases may be run simultaneously.