Premium Schedules
Premium Schedules "in use"
There are up to three Premium Schedules "in use" in ClariNet LS:
- On the Premiums tab
This is not used for Pricing or Valuations. It used purely to compare the Scheduled payments and the Payment actually made in the Payment History on this page. It also used in the Rolling XX report (which is intended to show what you are meant to pay in the next XX months) and the Premium Payment Instruction report (which is intended to list bank details, addresses and amounts to pay this month).
This will potentially be used to generate notifications in the future.
- On the Valuation Settings tab, for Valuations
This Premium Schedules is used for Pricing or Valuations.
When doing Valuation for a single Case, the Premium Schedule selected in this setting will be pre-selected on the single Case Valuation page.
When doing Portfolio Valuations, Monte Carlo, Risk Analysis or Generator, the Premium Schedule selected in this setting will be used.
- On the Valuation Settings tab, for Actual Expected
The Premium Schedule selected in this setting will be used by the Actual vs Expected for a Portfolio.
Exporting Premium Schedules
Using Custom Reports, you can easily export the last few Premium Schedules (up to 10, ordered by Pricing Date, then Creation Date).
It is currently not possible to export just the one Premium Schedule used on the Premiums tab or the Valuation Settings tab. However, you can show whether a particular Schedule is used in the A2E Settings, Valuations Settings or for Payments on the Premiums tab. This will be a yes/no value. For example, if you have selected to export the last five Premium Schedules and if the "used" Schedule on the Premiums tab happens to be one of these five, then the column called "Premium Schedule Used for Payments" for that one Schedule will say "yes". It would say "no" for the other four. If you export the last three Schedules, and the "used" Schedule happens to be older, then there won't be any "yes" value in this column, all three would say "no".
This report definition:
generates the report shown below. The special column "Premium Schedule Data" on the Custom Report designer will be expanded into monthly dates for Premium and NDB amounts. Note that the checkbox "Transpose" was checked so that payments appear going down in rows rather than across in columns (which is the default).
Note that the third Case has an Increasing Net Death Benefit, therefore the Level NDB field is blank and the associated NDB Schedule is shown further down in the same column:
