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Actuarial and Life Insurance Component
Actuarial & Life Insurance component is a .Net component. It contains a set of API calls to calculate different forms of life insurance, its value, premiums and mortality risks for one or two persons.
Component is designed for developers who want to quickly integrate actuarial and life insurance functionality into their applications.
Here are a few application examples for this component:
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- Endowment insurance. A simplest form of saving insurance, which guarantees you a certain amount if you survive a number of years.
- Life annuity, such as pension.
- Death annuity or family benefit income. A series of payment, which starts immediately after death of a person, and stops at the end of the insurance, e.g. surviver pension, or partner pension.
- Death insurance which is paid out only after client dies is also frequently called ‘pure term
life assurance’, e.g. funeral assurance. You can specify the payout due moment: direct on death, end of the year or end of the insurance (fixed-term).
- First-to-die life insurance benefit. First-to-die life insurance insures the life of at least one of two people and pays a benefit upon the first death of the insured persons. This insurance policy is useful for covering a mortgage or other large debt obligation where there is more than one debtor.
- Last-To-Die life insurance (often referred to as second-to-die, or survivorship), is a form of
insurance policy that insures the lives of at least two persons (used for estate taxes).
- Combined insurance, which is a combination of any type of insurances (e.g. most frequently used death insurance with endowment insurance, or endowment insurance with premiums refund after death, or death annuity in combination with death insurance).
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Premiums, capitals and annuities can be configured and calculated in any possible ways:
- Single
- Constant
- Increasing or decreasing (linear or with compound rates)
- Delayed, temporary or whole life.
- Custom template.
In addition component supports annuities due to:
- YearBegin,
- YearEnd,
- HalfYearBegin,
- HalfYearEnd,
- QuarterBegin,
- QuarterEnd,
- MonthBegin,
- MonthEnd,
- Continuous
Sample xml mortality tables are also included.
Licence model
Figlo licences for Actuarial & Life Insurance Components are issued on a simple ‘per user’ or ‘unlimited use’ basis without charges for royalties, runtimes, or server deployment fees. An ultimate licence is required for multi-use, redistribution or packaging of Figlo Components.
Personal Licence
EURO 249,-
Ultimate Licence
EURO 999,-
Subscription coverage
Extending mail support is included.
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