Waiver Of Premium Rider Cost Percent Lookup
Audit actual waiver-of-premium rider quote against caller verified product-class cost fraction, not an alarm discount, rider disability definition or benefit entitlement.
Description
Waiver-of-premium rider cost can be expressed as a fraction of base premium.
Waiver-of-premium rider cost can be expressed as a fraction of base premium. A verified class catalog supports comparison with an observed quote.1
The returned values include Caller rounded annual waiver rider minor, Signed quoted waiver rider cost difference minor. The How section below explains the calculation, input rules and interpretation.
When to use Waiver Of Premium Rider Cost Percent Lookup
Use Waiver Of Premium Rider Cost Percent Lookup when you need to evaluate the supplied records under the calculation and evidence rules below. No disability definition, benefit entitlement or default rider rate is inferred.
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 Waiver Of Premium Rider Cost Percent 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 callerWaiverRiderClassIds, callerVerifiedRiderCostBasisPoints, queryWaiverRiderClassId, callerAnnualBaseLifePremiumMinor, observedQuotedWaiverRiderMinor using the field table and calculation rules, then run the tool.
- Read callerRoundedAnnualWaiverRiderMinor, signedQuotedWaiverRiderCostDifferenceMinor. 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 |
|---|---|---|---|
| callerWaiverRiderClassIds | Caller waiver rider class ids | list of string | Required |
| callerVerifiedRiderCostBasisPoints | Caller verified rider cost basis points | list of number | Required |
| queryWaiverRiderClassId | Query waiver rider class id | string | Required |
| callerAnnualBaseLifePremiumMinor | Caller annual base life premium minor | number | Required |
| observedQuotedWaiverRiderMinor | Observed quoted waiver rider minor | number | Required |
Enter aligned nonempty unique nonblank class IDs and integer cost basis points 0–10000, an exact query ID and nonnegative integer base/quote money at most 10¹² each. Return rounded rider cost and signed quote difference.
expectedRider=roundMinor(base×costBasisPoints/10000); difference=quote−expectedRider Units, indexing, boundary conditions and exceptional cases are defined in the calculation rules above.
| Output field | Meaning | Value type |
|---|---|---|
| callerRoundedAnnualWaiverRiderMinor | Caller rounded annual waiver rider minor | number |
| signedQuotedWaiverRiderCostDifferenceMinor | Signed quoted waiver rider cost difference minor | number |
{
"input": {
"callerWaiverRiderClassIds": [
"a",
"b"
],
"callerVerifiedRiderCostBasisPoints": [
500,
1000
],
"queryWaiverRiderClassId": "a",
"callerAnnualBaseLifePremiumMinor": 10000,
"observedQuotedWaiverRiderMinor": 600
},
"output": {
"callerRoundedAnnualWaiverRiderMinor": 500,
"signedQuotedWaiverRiderCostDifferenceMinor": 100
}
}Limitations and assumptions
No disability definition, benefit entitlement or default rider rate is inferred.
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. Extremely large text inputs are rejected. Missing required fields, extra fields, wrong value types and violations of the calculation rules are input errors.
Alternative or Complementary methods
Use Security Alarm Discount Percent Lookup: An alarm credit requires verified certification under the selected premium schedule. Catalog rate lookup still occurs when evidence is absent. For a complementary task, use Multi Policy Bundle Discount Percent Calculator: Bundle savings compare separate premiums with individually rounded discounts and a fixed annual fee. Fees can make net savings negative.
References
Similar or alternative tools
- Security Alarm Discount Percent Lookup
An alarm credit requires verified certification under the selected premium schedule. Catalog rate lookup still occurs when evidence is absent.
- Multi Policy Bundle Discount Percent Calculator
Bundle savings compare separate premiums with individually rounded discounts and a fixed annual fee. Fees can make net savings negative.