Premium Calculator - overriding starting values

When running a premium optimization, the calculator can source values for data points from the used Illustration or a linked Verification of Coverage.

These data points include:

• Account Value
• Cash Surrender Value
• Account Value Date
• Loan Amount
• Current Crediting Rate
• Total Premiums Paid To Date

The calculator has the ability to override the values from these data sources. This can be useful if you’re not using the servicing module to record Policy Verifications (Verifications of Coverage) or you have access to more up-to-date information than recorded in the Illustration.

You can find the overrides on the “Override Illus/VOC Starting Values” tab of the premium calculator. In the following example, you can see the Account Value and Total Premiums Paid To Date fields have been overridden. The Minimum Premium Account Value tab shows these taking affect in year 31, month 6 which is the policy monthiversary after the overridden account value date.