Premium Overview

Here’s an overview of the premium components that can be added across different products in Core.

For Annuity Business: Set Annuity Premium as the required component.

For Disability, Long-Term Care, Medical Supplement, and Term Life, Set the Basic Premium as the required component. If applicable, add the Policy Fee.

For Permanent Life and other product types: Set Target Premium as the required component. After saving the product, add the following premium components: Excess, Lump Sum/1035 Funds, Rolling Target, and Planned Premium. Once these components are added, navigate to the Product Info tab and enable the system to calculate excess if the product pays excess.

Note: If the policy fee is banded, you must create the bandings on the premium component tab of the product record after it is saved.

IMPORTANT TERMS