| AXIS
Update Information |
| Update
Summary: |
Third Required Surplus |
| Update
Type: |
Enhancement
|
| Version
# : |
12301001 (16 Aug 08) |
| Modules
Affected: |
Regular Life , Universal Life , Par Products , Disability |
| Changes
Results: |
Yes
|
| GGY
Job # |
22285 |
| Detailed
Update Description |
In the Regular Life, Universal Life, Par Products and Disability modules, a "Third Required Surplus" is added in the Required Surplus section.
For all three required surpluses, the reserve basis for the calculation of the reserve related components (e.g. NAAR) can be based on Statutory, Second, Third, Fourth or Fifth reserve. The reserve basis for the lapse risk component could be different from the reserve used for required capital as well. The mortality component and lapse risk component can be included in any of the three required surpluses.
For each required surplus used, a new category report is produced to provide additional details of the calculations. A new reserve details category report is also available to display the reserve related required surplus basis. |
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