Annuity Start Classifier
Classify caller-observed indicators for annuity start classifier while preserving mixed and insufficient evidence.
Description
An annuity-start classifier counts supplied indicators supporting immediate and deferred patterns.
An annuity-start classifier counts supplied indicators supporting immediate and deferred patterns. Contradictory evidence is preserved as a mixed outcome.1
Classify caller-observed indicators for annuity start classifier while preserving mixed and insufficient evidence.
When to use Annuity Start Classifier
Use this tool to classify caller-observed indicators for annuity start classifier while preserving mixed and insufficient evidence.
Prepare the supplied policy terms, dates, assumptions or recorded indicators requested. Keep monetary amounts on one currency basis and select the applicable thresholds separately.
How to use Annuity Start Classifier and understand its results
- Prepare the supplied policy terms, dates, assumptions or recorded indicators requested. Keep monetary amounts on one currency basis and select the applicable thresholds separately.
- Enter incomeStartsWithinYear, singlePremiumIncome, accumulationPeriod, incomeStartsAfterYear using the field table and calculation rules, then run the tool.
- Read classification, firstScore, secondScore. The explanation below defines the units, signs, ordering and any flags or placeholder values.
- If the tool reports an input issue, correct the values and run it again. Apply the stated assumptions when interpreting a successfully returned result.
| Input field | Meaning | Value type; see rules below | Requirement |
|---|---|---|---|
| incomeStartsWithinYear | Income starts within one year | boolean | Required |
| singlePremiumIncome | Premium is converted promptly to income | boolean | Required |
| accumulationPeriod | Contract has an accumulation period | boolean | Required |
| incomeStartsAfterYear | Income starts after one year | boolean | Required |
Enter four booleans. Return firstScore, secondScore and classification. Both zero yield insufficient-evidence; equal positive counts yield mixed-evidence; otherwise the larger count selects immediate-annuity or deferred-annuity, even when both sides have support.
firstScore=withinYear+promptPremiumIncome; secondScore=accumulation+afterYear Units, indexing, boundary conditions and exceptional cases are defined in the calculation rules above.
| Output field | Meaning | Value type |
|---|---|---|
| classification | Classification | string; one of "immediate-annuity", "deferred-annuity", "mixed-evidence", "insufficient-evidence" |
| firstScore | Immediate-annuity indicators | integer; minimum: 0 |
| secondScore | Deferred-annuity indicators | integer; minimum: 0 |
{
"input": {
"incomeStartsWithinYear": true,
"singlePremiumIncome": true,
"accumulationPeriod": false,
"incomeStartsAfterYear": false
},
"output": {
"classification": "immediate-annuity",
"firstScore": 2,
"secondScore": 0
}
}Limitations and assumptions
No contract, start date, tax treatment or suitability is assessed. Counts are not confidence probabilities.
Numeric inputs must be finite. Follow the calculation-specific rules for overflow, underflow and exceptional cases. Missing required fields, extra fields, wrong value types and violations of the calculation rules are input errors.
Alternative or Complementary methods
Use SPIA Payout: Calculate modeled SPIA payout from a caller-supplied payout rate. For a complementary task, use Annuity Payout Comparison: Compare nominal payout totals under caller-supplied durations.
References
-
Annuity Start Classifier — tool.io
Similar or alternative tools
- SPIA Payout
Calculate modeled SPIA payout from a caller-supplied payout rate.
- Annuity Payout Comparison
Compare nominal payout totals under caller-supplied durations.