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

PolicyID¶: Policy ID

References in Base

PolicyData¶: Input.PolicyData

ProductSpec¶: Input.ProductSpec

LifeTable¶: LifeTable

References in Sub

Product¶: Product key

PolicyType¶: Policy type key

Gen¶: Generation key

Channel¶: Channel key

Sex¶: M for Male, F for Female

Duration¶: Number of years lapsed. 0 for new business

IssueAge¶: Issue age

PremFreq¶: Number of premium payments per year. 12 for monthly payments

PolicyTerm¶: Policy term in year

PolicyCount¶: Number of policies

SumAssured¶: Sum Assured per policy

Cells

`AnnPremRate`()	Annualized Premium Rate per Sum Assured
`CashValueRate`(t)	Cash Value Rate per Sum Assured
`Channel`()
`Duration`()
`Gen`()
`GrossPremRate`()	Gross Premium Rate per Sum Assured per payment
`GrossPremTable`()	Gross premium table
`InitSurrCharge`()	Initial Surrender Charge Rate
`IntRate`(RateBasis)	Interest Rate
`IssueAge`()
`LoadAcqSA`()	Acquisition Loading per Sum Assured
`LoadMaintPrem`()	Maintenance Loading per Gross Premium
`LoadMaintPremWaiverPrem`()	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
`NetPremRate`(basis)	Net Premium Rate
`PolicyCount`()
`PolicyTerm`()
`PolicyType`()
`PremFreq`()
`Product`()
`ReserveNLP_Rate`(basis, t)	Net level premium reserve rate
`ReserveRate`()	Valuation Reserve Rate per Sum Assured
`Sex`()
`SumAssured`()
`SurrCharge`(t)	Surrender Charge Rate per Sum Assured
`TableID`(RateBasis)	Mortality Table ID
`UernPremRate`()	Unearned Premium Rate

AnnPremRate()[source]¶: Annualized Premium Rate per Sum Assured

CashValueRate(t)[source]¶: Cash Value Rate per Sum Assured

GrossPremRate()[source]¶: Gross Premium Rate per Sum Assured per payment

GrossPremTable()[source]¶: Gross premium table

InitSurrCharge()[source]¶: Initial Surrender Charge Rate

IntRate(RateBasis)[source]¶: Interest Rate

LoadAcqSA()[source]¶: Acquisition Loading per Sum Assured

LoadMaintPrem()[source]¶: Maintenance Loading per Gross Premium

LoadMaintPremWaiverPrem()[source]¶: Maintenance Loading per Gross Premium for Premium Waiver

LoadMaintSA()[source]¶: Maintenance Loading per Sum Assured during Premium Payment

LoadMaintSA2()[source]¶: Maintenance Loading per Sum Assured after Premium Payment

NetPremRate(basis)[source]¶: Net Premium Rate

ReserveNLP_Rate(basis, t)[source]¶: Net level premium reserve rate

ReserveRate()[source]¶: Valuation Reserve Rate per Sum Assured

SurrCharge(t)[source]¶: Surrender Charge Rate per Sum Assured

TableID(RateBasis)[source]¶: Mortality Table ID

UernPremRate()[source]¶: Unearned Premium Rate

Projection