Benefit Period To Age Options Lookup

Compare actual attained age with independently verified benefit-to-age options and caller requested horizon; not civil birth-date calculation, automatic renewability or medical readiness.

Description

Benefit-to-age options compare remaining years with a requested horizon.

Benefit-to-age options compare remaining years with a requested horizon. Expired options have zero remaining years.^[1]

The returned values include Caller remaining benefit years, Caller horizon compatible benefit option ids. The How section below explains the calculation, input rules and interpretation.

When to use Benefit Period To Age Options Lookup

Use Benefit Period To Age Options Lookup when you need to evaluate the supplied records under the calculation and evidence rules below. No birth-date calculation, renewability or medical readiness is supplied.

Prepare the observed policy, claim or quote evidence and independently verified policy tables. Monetary fields use integer minor units in one currency: for a currency with 100 minor units per major unit, enter 12345 for 123.45. One basis point is 0.01 percentage points, so 10000 basis points represents 100%.

How to use Benefit Period To Age Options Lookup and understand its results

Prepare the observed policy, claim or quote evidence and independently verified policy tables. Monetary fields use integer minor units in one currency: for a currency with 100 minor units per major unit, enter 12345 for 123.45. One basis point is 0.01 percentage points, so 10000 basis points represents 100%.
Enter observedAttainedAgeYears, callerBenefitOptionIds, callerVerifiedBenefitEndAgesYears, callerRequestedBenefitHorizonYears using the field table and calculation rules, then run the tool.
Read callerRemainingBenefitYears, callerHorizonCompatibleBenefitOptionIds. 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
observedAttainedAgeYears	Observed attained age years	number	Required
callerBenefitOptionIds	Caller benefit option ids	list of string	Required
callerVerifiedBenefitEndAgesYears	Caller verified benefit end ages years	list of number	Required
callerRequestedBenefitHorizonYears	Caller requested benefit horizon years	number	Required

Enter finite attained age and nonempty end ages in 0–120, aligned unique nonblank option IDs and nonnegative finite requested horizon. Return remaining years and all adequate IDs; fractional ages are allowed, and a zero requested horizon includes expired options.

remaining_i=max(0,endAge_i−attainedAge); compatible if remaining_i≥requestedYears

Units, indexing, boundary conditions and exceptional cases are defined in the calculation rules above.

Output field	Meaning	Value type
callerRemainingBenefitYears	Caller remaining benefit years	list of number
callerHorizonCompatibleBenefitOptionIds	Caller horizon compatible benefit option ids	list of string

json

{
  "input": {
    "observedAttainedAgeYears": 40,
    "callerBenefitOptionIds": [
      "age60",
      "age65"
    ],
    "callerVerifiedBenefitEndAgesYears": [
      60,
      65
    ],
    "callerRequestedBenefitHorizonYears": 22
  },
  "output": {
    "callerRemainingBenefitYears": [
      20,
      25
    ],
    "callerHorizonCompatibleBenefitOptionIds": [
      "age65"
    ]
  }
}

Limitations and assumptions

No birth-date calculation, renewability or medical readiness is supplied.

Numeric inputs, where present, must be finite. Follow the calculation-specific rules for overflow, underflow and exceptional cases. Numeric lists are limited to 10,000 entries; string lists to 128 strings of at most 128 characters each. The rules above may impose smaller limits. Missing required fields, extra fields, wrong value types and violations of the calculation rules are input errors.

Alternative or Complementary methods

Use Elimination Period Benefit Gap Days Calculator: An elimination period may count qualifying days cumulatively or require an uninterrupted run. Both observed counts help explain the outcome. For a complementary task, use LTC Inflation Protection Compound Option Calculator: Simple and compound LTC inflation riders grow different bases. Annual rounding can affect a compound projection over many years.

References

Benefit Period To Age Options Lookup — tool.io

Similar or alternative tools

Elimination Period Benefit Gap Days Calculator
An elimination period may count qualifying days cumulatively or require an uninterrupted run. Both observed counts help explain the outcome.
LTC Inflation Protection Compound Option Calculator
Simple and compound LTC inflation riders grow different bases. Annual rounding can affect a compound projection over many years.