Use the result for a transparent first-pass actuarial calculation when the probability, interest, exposure, and timing assumptions are already defined on a consistent basis.

Benefit present value

Present value of future policy benefits at the valuation date.

First-year term premium

Net premium for one year of term insurance at the original issue age.

Full preliminary term renewal premium

Renewal premium produced by the full preliminary term method.

Future premium annuity factor

Annuity-due factor for future valuation premiums at the valuation date.

19-payment life premium at next age

Net level premium for a 19-payment whole life policy issued one year after the original issue age.

Net level premium

Unmodified net level premium for the policy.

Calculate a Commissioners Reserve Valuation Method modified premium and prospective reserve for a level-premium policy from precomputed actuarial present values. The tool evaluates the supplied inputs together and returns the named outputs below; it does not infer omitted operating conditions or change the units shown.^[1]

Commissioners expense allowance

Increase over the net level premium allowed by the Commissioners method.

Modified valuation premium

Annual modified valuation premium used in the prospective reserve.

Valuation reserve

Prospective reserve: benefit present value less the present value of future modified premiums.

• Actuarial results are conditional on the supplied mortality, survival, loss, interest, or development assumptions. They are not a premium opinion, reserve certification, or substitute for experience analysis and regulatory judgment.
• Use finite inputs in the displayed units and preserve more precision than the final presentation requires. Independently verify safety-critical, financial, compliance, or production decisions.

Compare the result with a second reserving, credibility, or life-contingency method and test how it changes under plausible assumption ranges. Retain the basis and valuation date with the result.

• Zillmer Reserve Calculator

  Calculate the Zillmer reserve, which raises the valuation premium to recover a per-unit first-year expense allowance and values the policy prospectively with that modified premium.

• Full Preliminary Term Reserve Calculator

  Calculate the full preliminary term valuation: the first year funds only a one-year term cost leaving zero terminal reserve, and later years use the renewal valuation premium.

• Net Level Annual Premium Calculator

  Calculate the net level annual premium whose expected present value funds a whole life benefit paid at the end of the year of death.