Participating Whole Life

This is an example of a Participating Whole Life Insurance product. The inputs of this service include age, gender, premium term, smoking status, etc. The outputs of this service include quotation of premium rates and illustrations, such as cash flow, surrender benefit, and death benefit.

The model can either solve for premium based on sum assured or solve for sum assured based on premium.

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PAR Model.xlsx

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Worksheet layout

Here is the detailed walkthrough of this service by worksheet.

• Inputs & Outputs This tab contains the inputs and outputs for this model. The inputs include issue age, gender, premium frequency, etc. The outputs include the premium and premium rates.

• xSolve This tab enables you to solve for sum assured based on premium.

• CashFlowPP Cash flow illustrations by policy year.

• Xreport_IllustrationIllustration of surrender benefit and death benefit, by guaranteed and non-guaranteed for each policy year. This tab will also print as PDF from Spark.

• Other tabs: The remaining tabs contains the rates and factors for this model, including index table, guaranteed cash value (GCV) factors, annual dividend (AD) factors, TB (terminal bonus) rates and premium rates.

Inputs

These are the Xinputs in this service.

Outputs

These are the Xoutputs in the service.

This is a snapshot of the xoutput_cashflow30 for the first 10 years.