Calculating the premium Clause Samples

Calculating the premium. 1. The premium is calculated as an interim annual premium to be paid in advance on the basis of - the insured activities; - the additional risks subject to premium. Please refer to Section 8 III AHB.
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Calculating the premium. Calculating the premium for retirement pension Example 2 Calculating the premium for the partner’s and orphan’s pension One-year risk premium Example 3 Increasing single premium Example 4 Accrual of partner’s and orphan’s pension Risk-basis partner’s and orphan’s pension in addition to accrual-basis partner’s and orphan’s pension Risk-basis partner’s and orphan’s pension without accrual-basis partner’s and orphan’s pension Calculating the premium for the ANW shortfall pension Calculating the premium for the waiver of premium in the event of disability
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Calculating the premium. Calculating the premium for retirement pension Example 2 Calculating the premium for the partner’s and orphan’s pension One-year risk premium 2021.1 ve The participant in examples 1 and 2 is a man with a partner. He can attain 25 years of service up to his retirement date. The percentage that applies to his partner's pension is 1.16%. For each year, he receives as partner’s pensioen: His partner’s pension is € 10,920.00 (pensionable earnings) × € 1.16% = € 126.67 (gross) per year. The insured partner's pension for 25 years of service is then € 126.67 × 25 = € 3,166.75. You calculate the premium for the partner's pension for this year by multiplying € 3,167.00 by the rate for a man aged 43. The rates table is set out in Annex 2. Per month you pay 1/12 of this amount increased by the adjustment factor for the payment period. This monthly premium is adjusted by the interest rate adjustment (this can be a surcharge or a rebate). The premium for the orphan’s pension is calculated in the same way, except that you use the percentage and the rate that apply for the orphan’s pension. Here is an example of how we calculate the one-year risk premium for the partner’s and orphan’s pension: We calculate the increasing single premium like this: We buy in the partner’s and orphan’s pension from year to year, each year only that portion of the partner’s and orphan’s pension that the participant accrues in that year. We determine the increasing single premium again each year according to the age of the participant on 1 January of the year in question. The partner’s and orphan’s pension that the participant accrues in a year is the pensionable earnings multiplied by the accrual percentage that you have chosen. The accrual percentage that you have chosen is stated in the Proposal. A one-year risk premium is added to the increasing single premium. You pay this each year for the insurance of the partner’s and orphan’s pension for future years of service. That has not yet, after all, been purchased with increasing single premiums. The increasing single premium is therefore actually a combination of the increasing single premium and a risk premium. Here is an example of how we calculate the increasing single premium for the partner’s and orphan’s pension: The participant is a man, with or without a partner or children. He can attain 25 years of service up to his retirement date. The percentage that applies to his partner's pension is 1.313. In the year of these pensionable earni...
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Calculating the premium for the waiver of contribution
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Related to Calculating the premium

  • Calculating Interest Assume that you have a single interest rate of 15.99%, your ADB is $2,250 and there are 30 days in the billing period.

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