Reason for insurance. Own life. By inputting the above details into our quote system, we obtained the following output s
Glacier's premium pattern tool This month we take a look at the premium pattern tool, and highlight some of the main functions and benefits. We encourage you to contact your Glacier representative for more information on how this tool can benefit both you and your clients. The premium pattern comparison tool allows you to compare up to five different premium patterns with one another. This enables your client to make an informed decision with regard to the choice of available premium patterns. It's an especially useful function as premium patterns are typically difficult to compare, as each product provider offers varying premium and growth patterns. The premium pattern sales aid gives your client the opportunity to view the impact of the selected premium pattern graphically, and the financial commitment over the selected period is calculated at its present value. Let's take a look at an example, using the personal details of a fictitious person: Personal details Title and surname Mrs Example First name Jane Date of birth 1973/01/01 Age next birthday 40 Smoker in last 12 months No Basic monthly income R50 000.00 Qualification Four-year Bachelor's degree (university) Occupation Managing director of listed company Only one occupation was taken into account for underwriting and cost purposes. Part-time activity None Disability class / Rate group -/5 Reason for insurance Own life By inputting the above details into our quote system, we obtained the following output showing the various patterns and premium.
The above information can now be entered into Glacier's Premium Pattern tool, enabling you to view the premiums over the term of the policy. Graph showing the different premiums
Glacier Financial Solutions (Pty) Ltd, A member of the Sanlam Group Reg No 1999/025360/07 Licensed Financial Services Provider Refer to the Glacier website for details of directors
