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Calculator
 

Calculator

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    Calculator Calculator Presentation Transcript

    • GWL Segregated Fund Guarantee Calculator Yuan Xiu June 15 th , 2009
    • Agenda
      • Overview of calculator
      • Capabilities
      • Challenges
      • Outlook
      • Questions?
    • 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
    • Capabilities – POL Info.
      • Obtain policy information and transaction histories with the click of a button
        • < Demonstration >
    • Capabilities – Transactions
    • Capabilities – Transactions
      • Loop through transactions and process each transaction based on the type of transaction it is
        • Deposit
        • Transfer
        • Withdrawal
        • Fee
    • 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
    • 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
    • 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
    • Capabilities – Fee
      • Use FIFO
      • Fee does not affect guarantee amount
      -0.020389 6.23 PREM FD 25/05/2005 MODPORT Amount Type Date
    • Capabilities – Reset
      • Check for renewal year before each transaction
      • If necessary, apply reset (MV > Guarantee Amount) to Deposit Year 1
    • 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 >
    • Challenges
      • Seeing the “ entire ” picture
        • Building calculator is like putting together a huge puzzle
      • Translating ideas to codes
        • Eg. Graded death benefit
    • 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 …
    • 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
    • Questions? Thank you!