MAPS Individual Policy Valuation Model
The MAPS Individual Policy Valuation Model provides expected premium, death benefit, and expense cash flows based on the investor's mortality or life expectancy assumptions. The
system will calculate the actuarial present value given these cash flows at the investor's desired rate of return.
Evaluate the following types of insurance:
- Whole life
- Term insurance
- Second-to-die (Survivorship)
- Universal life - the model will solve for the lowest cost required to keep the policy in force based on the determined cost of insurance (COI) and the investor's funding requirements.
Key model features include:
- Simultaneous valuations for multiple life expectancies
- Solving for internal rate of return using a given target price
- Flexibility with mortality assumptions – users may apply the assumptions of the 2001,
2008, and 2015 VBT with adjustments that vary by gender, age and smoking class
- Fully functional with Fasano mortality tables to those wishing to license for an additional fee
- Recognition of policy expenses (including sales costs)
- Monthly income statements to allow for managing premium payments
- Handling unique policy provisions such as minimum premium requirements, option B face amounts, and return of premium provisions
- Tracking by carrier, diagnosis, case status and other characteristics
- Specifying projected premium modes and patterns, such as level monthly for a specified period
- Ability to save multiple sets of valuation assumptions for each case
- Dual discount rates for the purchase price and on-going premium payments
- Seamless integration with Portfolio valuation features
MAPS Extended features
- Person Manager — update insureds to include dates of death, etc
- Premium Manager – enter historical premiums since purchase
- Table Manager – create and import proprietary tables; view details of existing tables
- Underwriting Manager - update underwriting on multiple insureds
- Batch Manager – value all cases in a database in one run
- Portfolio import – import multiple cases via one Excel spreadsheet
MAPS Component features
Integrate the MAPS pricing engine into your daily workflow through access to the MAPS programming API.
For further information please see the MAPS SDK page.
To learn more about Life Settlement Valuation, read the MAPS Life Settlement Overview.
To learn more about the different MAPS Life Settlement Valuation models, view our Model Feature Comparison.