Calculator
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Calculator Presentation Transcript

  • 1. GWL Segregated Fund Guarantee Calculator Yuan Xiu June 15 th , 2009
  • 2. Agenda
    • Overview of calculator
    • Capabilities
    • Challenges
    • Outlook
    • Questions?
  • 3. Overview
    • Calculate maturity and death benefit guarantee for both inforce and terminated segregated fund policies,
      • Basic policies
      • Policies with enhanced rider
    • Main focus for today will be the enhanced guarantee calculator
  • 4. Capabilities – POL Info.
    • Obtain policy information and transaction histories with the click of a button
      • < Demonstration >
  • 5. Capabilities – Transactions
  • 6. Capabilities – Transactions
    • Loop through transactions and process each transaction based on the type of transaction it is
      • Deposit
      • Transfer
      • Withdrawal
      • Fee
  • 7. Capabilities – Deposit
    • Determine the deposit year of the transaction
    • Increase the fund units by the transaction units
    • Increase the guarantee amount of the deposit year by the transaction amount
    48.928959 14,820.22 DEP FD 25/04/2005 MODPORT Amount Type Date
  • 8. Capabilities – Transfer
    • Determine the deposit year of the transaction
    • Increase “Fund To” units and decrease “Fund From” units by transaction units
    • Transfer does not affect guarantee amount
    -49.185555 52.345043 4,000.34 XFER FD 25/02/2007 BALPORT MODPORT Amount Type Date
  • 9. Capabilities – Withdrawal
    • Use FIFO for withdrawing units
    • Guarantee amount of the deposit year(s) affected is reduced proportionally
    • Handle multiple withdrawals on the same date and single withdrawal from multiple deposit years
    -43.395899 13,750.00 WITH FD 10/02/2006 MODPORT Amount Type Date
  • 10. Capabilities – Fee
    • Use FIFO
    • Fee does not affect guarantee amount
    -0.020389 6.23 PREM FD 25/05/2005 MODPORT Amount Type Date
  • 11. Capabilities – Reset
    • Check for renewal year before each transaction
    • If necessary, apply reset (MV > Guarantee Amount) to Deposit Year 1
  • 12. Capabilities – Death Benefit Grading
    • Determine graded death benefit guarantee before each transaction
    • If the transaction is a deposit, increase death benefit guarantee by the graded transaction amount
    • < Transaction Process Demonstration >
  • 13. Challenges
    • Seeing the “ entire ” picture
      • Building calculator is like putting together a huge puzzle
    • Translating ideas to codes
      • Eg. Graded death benefit
  • 14. Example
    • Determine the year of the transaction
    • If year is less or equal to 10 then,
    • Loop through deposit year 1 to year
    • Store guarantee amount for each deposit year into a column vector
    • If ( year – deposit year) <= 5
    • Death benefit guarantee (deposit year) = guarantee amount (deposit year) * [0.75 + ( year – deposit year)*0.05]
    • Otherwise, death benefit guarantee (deposit year) = guarantee amount (deposit year)
    • Total death benefit guarantee = sum of death benefit guarantee for each deposit year
    • If year is greater than 10 then …
  • 15. Outlook
    • Obtain fund unit values associated with each policy through a query
    • Finish Top-Up logic for renewal year
    • Simplify the main template to make it more user-friendly
    • Testing, testing, and more testing!
    • Documentation
  • 16. Questions? Thank you!