New Policy Values

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if start date = 01/11/2020, then Expiry Date = 31/10/2021

if start date = 01/11/2020, then Expiry Date = 31/10/2021

Calculation of the Value

The Value is calculated based on:

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Except the discount (which depends on enrollment date), these values only dependent on the family composition. If the Product has a Maximum Members, family members are ordered based on their creation (i.e. recording in system) date time and all members beyond the Maximum Members parameter are simply not taken into account in any calculation.

In other words, the order in which the user records the family members may change the policy value (for example, if he records all the children first, the ‘child contribution’ will be used, while the adults count will be capped).

(remaining) Family members are ‘classified’ (counted) in 4 categories:

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