The COI tab is displayed when the illustration type is set to Manual Entry and is used by RazorPlan to illustrate a specific insurance company policy in the plan. This screen will change based on the Policy Type selected on the Policy Info tab. There are two options which will impact how many of the Manual COI #1 – 5 fields need to be filled in:
Level – Selecting Level as the policy type indicates that only the cost of insurance for the issue age is being entered as this cost will not change over the life of the policy.
Yearly Renewable Term (YRT) – Selecting YRT as the policy type indicates that the cost of insurance for multiple ages is being entered.
No. of Years SC Applies: Enter the number of years the surrender charge is applied to the policy.
SC % Year 1: Enter the surrender charge percentage in the first year. This percentage and the number of years there are surrender charges applied determine the declining surrender charges each year.
Annual Policy Fee: Enter the annual policy fee of the policy.
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