Features Outline

General System Functionality:

• 100% HTML Interface
  
• Online, Real Time Undo/Redo
  
• On-line Quoting, Including Calculation of Target Premium for Desired Benefit Stream
  
• Print Policy Spec Page, Cost Disclosure and Assembly Instructions
  
• Full Commission Processing (Statements, Checks, Adjustments, Cumulative Sales, Commission Structures, etc.)
  
• Computation of State and Federal Taxes for Contributions and Distributions
  
• Suspense Transfer and Disbursement Processing
  
• General Accounting, Separate Accounting and Accounting for Breakage
  
• Forms and Letters Generation (Quarterly Statements, Confirms, etc.)
  
• Interface to External Corporate-Wide Systems
  
  

Products Supported:

• Single Premium Immediate Variable Annuities
  
• Single Premium Immediate Fixed Interest Annuities
  
• Structured Settlements
  
• Supplementary Contracts
  
• Tax Qualified and Non-Qualified Products
  
  

Payout Options Supported:

• Pure Life
  
• Life with Period Certain
  
• Period Certain (Non-Life Contingent)
  
• Joint and Percent to Survivor (With or Without Period Certain)
  
• Temporary Life
  
• Lump Sum
  
• Life Contingent Lump Sum Annuity Payout
  
• Cash Refund
  
• Installment Refund
  
• Cost of Living Adjustment (COLA)
  
  

Client Information Characteristics:

• Centralized Name and Address Facility
  
• Percentage-Defined Client Roles
  
• Large Number of Payees Per Contract
  
• Multiple Payout Streams
  
• Phonetic and Alpha Search
  
• Ability to Track all Contracts Tied to an Agent or Distribution Channel
  
• Multi-Company Support
  
  

Policy Administration Functionality:

• Financial and Non-Financial History
  
• Automatic Asset Allocation
  
• Automated Price Correction/Price Break Processing
  
• On Request Transfers and Asset Reallocation
  
• Partial Withdrawal Processing
  
  

Payout Processing Functionality:

• Automated Increasing Payout Streams
  
• Leveling of Variable Payments
  
• Payout Floor as Percent of Initial Payout
  
• Bonus Credits
  
• Combined Checks
  
• Internal Product Exchange
  
• Calculation of Exclusion Ratio
  
• Electronic Funds Transfer (EFT)
  
• Advanced Date Check Processing
  
• Split Payments into Taxable Portion
  
• Death Benefit Continuation
  
• Complete Death Claim Processing
  
  

Actuarial Functionality:

• Commuted Values Calculated by First Principles
  
• Up to Five Assumed Investment Returns
  
• Valuation Reporting of Inforce Contracts
  
• Policy Exhibit and Reporting by State and by Year of Issue