Premium Type

Select a premium amount type from the drop-down list. Some options are mutually exclusive and/or must comply with Face Amount and Distribution rules.

• Specify Amount – Enter the desired premium in the Amount field.
• Minimum Premium – Based on the Face Amount specified, the system will calculate the minimum premium for the policy. If the Death Benefit Protection Rider (DBPR) is present, the system will calculate the Monthly Guarantee Premium.
• Target Premium – Based on the Face Amount specified, the system will calculate the Commissionable Target Premium (CTP) for the policy.
• Guideline Annual Premium – Based on the Face Amount specified, the system will calculate the maximum level premium without qualifying the policy as a Modified Endowment Contract (MEC).
• Guideline Single Premium – Based on the Face Amount specified, the system will calculate the largest possible single premium without violating DEFRA guideline limits.
• Seven Pay Premium – Based on the Face Amount specified, the system will calculate the 7-Pay MEC premium.