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The Policy Value is the sum of 3 ‘buckets’ (contributions, registrations and assemblies assembly) minus a discount:
Value = Contributions + Registrations + Assemblies Assembly - Discount
Except the discount (which depends on enrollment date), these values only dependent on the family composition. Family members are ‘classified’ (counted) in 4 categories:
adults in ‘standard’ family relationships (like husband, brother,…) - further called adults
adults in ‘other’ family relationship (i.e. special value of the binding relationship) - further called other adults
children in ‘standard’ family relationships (like husbandson, brother,…) - further called children
children in ‘other’ family relationships - further called other children
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with a registration lump sum, the registrations part is the lump sum
without the lump sum, the amount is simply the number of members * registration fee
Calculation of the
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assembly
The assemblies assembly follow the exact same logic as the registrations part: 2 strategies (with and without lump sum) and, without lump sum, all members are equally.
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The discount is a simple percentage of the 3 other ‘buckets’ (contributions + registrations + assembliesassembly) which is applied only if the enrollment date is before a relative date limitthe start date - enrollment discount period.
Example:
For a product with a Enrollment discount of 10% and a Enrollment Discount period of 1 month, if the registrations + registrations + assembly = 10.000, the enrollment date 05/04/2021 and a start date of 01/06/2021 (cfr. start date calculation to reach this situation). Since 05/04/2021 < 01/05/2021 (01/06/2021 - 1 month), there will be a discount of 1.000.
Policy Renewal Values
//TODO
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