FLEXIBILITY AND ACCURACY: Our In Force illustration system allows wide flexibility for illustrating “what if” scenarios and produces accurate results based on detailed policy history information. The policy history data you have available for your policies may determine how your In Force illustration system can be configured. To meet your unique needs, our system can support policy history data imported from your administrative system or manual entry of this data. Ideally, we try to utilize a complete policy history in order to project policy values accurately and apply I.R.S. 7702 guidelines appropriately. If complete policy history is not available, we can use a simplified history or policy status as a starting point.
As with our new business illustration systems, you will appreciate the outstanding service we provide as we customize your In Force illustration system. Using a potent blend of actuarial expertise, technical talent, and software development experience, we will efficiently analyze and implement your product features and calculations.
FEATURES:
- Includes normal new business illustration options such as solves (for premium, face amount, premium pay period, or retirement income), withdrawals, and the ability to vary premiums, interest rates, face amounts, and death benefit options in future years
- Product calculations reflect your product parameters and comply with IRS regulations regarding life insurance and modified endowment contracts
- Calculation engine is shared as a common component with our web-based eInsDesk or desktop Insurance Desk illustration systems
- Illustrations can be previewed on screen and incorporate advanced features available in Windows environment (i.e. logos and different font sizes)
- Policy history can be collected manually through user inputs or automatically through a link to your administration system
- Changes to items such as class, face amount, death benefit option, dividend option, and riders are allowed at the evaluation date
- Deposits or withdrawals are allowed at the evaluation date
- The evaluation date can be off-anniversary and even off-monthiversary
- Can be configured to provide support for Annual Statements
- 32-bit system designed for Windows 95/98/2000/NT/ME/XP
ALTERNATIVES:
- If policy history information is available from a link to your administration system, in force illustrations can also be generated by our web-based eInsDesk or desktop Insurance Desk systems. The primary advantage of our In Force system is that it allows for complete policy history to be entered manually.
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