| AXIS
Update Information |
| Update
Summary: |
Adding New Columns to the Expense Table |
| Update
Type: |
Enhancement
|
| Version
# : |
12303001 (16 Dec 08) |
| Modules
Affected: |
Regular Life , Par Products , Disability |
| Changes
Results: |
No
|
| GGY
Job # |
22582 |
| Detailed
Update Description |
For Regular Life, Par Products and Disability modules, a new column has been inserted “Expense per modal premium ($)” (Column 7) in expense table. This column will help calculate the collection expenses for traditional product pricing, in order to properly assess modal premium loadings and fees.
For Regular Life, Par Products and Disability modules, two new columns “Expense per death claim (%)” (Column 14) and “Expense per other benefit paid claim for all other benefits (%)” (Column 16) have been inserted in the expense table. Corresponding $ amount columns already exist in the expense table.
For Regular Life, Par Products and Disability modules a new column “Extra reduction for lapse cost per policy without surrender value ($)” (Column 21 in Regular Life, Par Products and Column 22 in Disability Module) has been added in the expense table. This column will help separate expenses for lapse with value (surrender) vs. lapse with no value.
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