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- Sep 6, 2013
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I have a question about premium calculation of Discovery life plan with vitality integrator. My inquiry is as follows:
1. I am 42 years old and currently looking at the standard plan with premium and benefit adjustment rate of 0%. If my initial premium is 10000, and I reach silver status for the second and third year, and reach gold status at the fourth year, how would my premium change during 1~4 years? Is the calculation either A or B?
A:
Year 1 10,000*(1-17.5%)=82.5
Year 2(silver status) 10,000*(1+0.5%)=10,050
Year 3(silver status) 10,000*(1+0.5%)=10,050
Year 4(gold status) 10,000*(1-0.5%)=9,950
B:
Year 1 10,000*(1-17.5%)=82.5
Year 2(silver status) 10,000*(1+0.5%)=10,050
Year 3(silver status) 10,000*(1+0.5%)^2=10,100
Year 4(gold status) 10,000*(1+0.5%)^2*(1-0.5%)=10,050
2. If the answer is A, would my premium ever overtake maximum protected premium or be lower than the premium reduction floor?
1. I am 42 years old and currently looking at the standard plan with premium and benefit adjustment rate of 0%. If my initial premium is 10000, and I reach silver status for the second and third year, and reach gold status at the fourth year, how would my premium change during 1~4 years? Is the calculation either A or B?
A:
Year 1 10,000*(1-17.5%)=82.5
Year 2(silver status) 10,000*(1+0.5%)=10,050
Year 3(silver status) 10,000*(1+0.5%)=10,050
Year 4(gold status) 10,000*(1-0.5%)=9,950
B:
Year 1 10,000*(1-17.5%)=82.5
Year 2(silver status) 10,000*(1+0.5%)=10,050
Year 3(silver status) 10,000*(1+0.5%)^2=10,100
Year 4(gold status) 10,000*(1+0.5%)^2*(1-0.5%)=10,050
2. If the answer is A, would my premium ever overtake maximum protected premium or be lower than the premium reduction floor?