claim_pp#

claim_pp(t, kind)[source]#

Claim per policy

The claim amount per policy. The second parameter is to indicate the type of the claim, and it takes a string, which is either "DEATH", "LAPSE" or "MATURITY".

The death benefit as denoted by "DEATH", is the greater of sum_assured() and mid-month account value (av_pp_at(t, "MID_MTH")).

The surrender benefit as denoted by "LAPSE" and the maturity benefit as denoted by "MATURITY" are equal to the mid-month account value.

See also