policy

Source module to create Policy space from.

This module is a source module to create Policy space and its sub spaces from. The formulas of the cells in the Policy space are created from the functions defined in this module.

The Policy space is the base space of the policy spaces for individual policies, which are derived from and belong to the Policy space as its dynamic child spaces.

The policy spaces for individual policies are parametrized by PolicyID. For example, to get the policy space of the policy whose ID is 171:

>> pol = model.Policy(171)

The cells in a policy space for each individual policy retrieve input data, calculate and hold values of policy attributes specific to that policy, so various spaces in Input must be accessible from the Policy space.

Project Templates

This module is included in the following project templates.

Space Parameters

nestedlife.policy.PolicyID

Policy ID

References in Base

nestedlife.policy.PolicyData

Input.PolicyData

nestedlife.policy.ProductSpec

Input.ProductSpec

nestedlife.policy.LifeTable

LifeTable

nestedlife.policy.Gen

Generation key

References in Sub

nestedlife.policy.Product

Product key

nestedlife.policy.PolicyType

Policy type key

nestedlife.policy.Gen

Generation key

nestedlife.policy.Channel

Channel key

nestedlife.policy.Sex

M for Male, F for Female

nestedlife.policy.Duration

Number of years lapsed. 0 for new business

nestedlife.policy.IssueAge

Issue age

nestedlife.policy.PremFreq

Number of premium payments per year. 12 for monthly payments

nestedlife.policy.PolicyTerm

Policy term in year

nestedlife.policy.PolicyCount

Number of policies

nestedlife.policy.SumAssured

Sum Assured per policy

Cells

AnnualizedPremRate() Annualized Premium Rate per Sum Assured
CashValueRate(t) Cash Value Rate per Sum Assured
GrossPremRate() Gross Premium Rate per Sum Assured per payment
GrossPremTable() Gross premium table
InitSurrCharge() Initial Surrender Charge Rate
IntRate(RateBasis) Interest Rate
LoadAcqSA() Acquisition Loading per Sum Assured
LoadMaintGP() Maintenance Loading per Gross Premium
LoadMaintPremWaiverGP() Maintenance Loading per Gross Premium for Premium Waiver
LoadMaintSA() Maintenance Loading per Sum Assured during Premium Payment
LoadMaintSA2() Maintenance Loading per Sum Assured after Premium Payment
NLPReserveRate(basis, t) Net level premium reserve rate
NetPremRate(basis) Net Premium Rate
ReserveRate() Valuation Reserve Rate per Sum Assured
SurrCharge(t) Surrender Charge Rate per Sum Assured
TableID(RateBasis) Mortality Table ID
UnearnedPremRate() Unearned Premium Rate
nestedlife.policy.IntRate(RateBasis)[source]

Interest Rate

nestedlife.policy.TableID(RateBasis)[source]

Mortality Table ID

nestedlife.policy.LoadAcqSA()[source]

Acquisition Loading per Sum Assured

nestedlife.policy.LoadMaintGP()[source]

Maintenance Loading per Gross Premium

nestedlife.policy.LoadMaintPremWaiverGP()[source]

Maintenance Loading per Gross Premium for Premium Waiver

nestedlife.policy.LoadMaintSA()[source]

Maintenance Loading per Sum Assured during Premium Payment

nestedlife.policy.LoadMaintSA2()[source]

Maintenance Loading per Sum Assured after Premium Payment

nestedlife.policy.InitSurrCharge()[source]

Initial Surrender Charge Rate

nestedlife.policy.NetPremRate(basis)[source]

Net Premium Rate

nestedlife.policy.GrossPremRate()[source]

Gross Premium Rate per Sum Assured per payment

nestedlife.policy.AnnualizedPremRate()[source]

Annualized Premium Rate per Sum Assured

nestedlife.policy.GrossPremTable()[source]

Gross premium table

nestedlife.policy.NLPReserveRate(basis, t)[source]

Net level premium reserve rate

nestedlife.policy.ReserveRate()[source]

Valuation Reserve Rate per Sum Assured

nestedlife.policy.SurrCharge(t)[source]

Surrender Charge Rate per Sum Assured

nestedlife.policy.CashValueRate(t)[source]

Cash Value Rate per Sum Assured

nestedlife.policy.UnearnedPremRate()[source]

Unearned Premium Rate