Immediate Annuities

Key Features

PolySystems’ fully integrated suite of production quality actuarial modeling software offers comprehensive valuation, projection, and experience study capabilities. With a unique combination of flexibility and out of the box functionality, PolySystems’ single platform can be used to calculate both prescribed and principles-based reserves (PBR) and capital, perform fully integrated asset/liability projections for CFT and planning, set assumptions, carry out sensitivity and stochastic analyses, manage inforce profitability, price products and much more.

Key features for immediate annuities include:

  • Full integration with PolySystems’ asset modeling software, Asset Delphi
  • Stochastic mortality projections
  • Support for spousal benefits
  • Support for providing pricing quotes on group and institutional products

Broad Product Support

Our software supports all major immediate annuity product types, including:

  • SPIAs
  • Structured Settlements
  • Retirement Annuities
  • Pension Buyout Products
  • Participating Payout Annuities
  • Variable Payout Annuities
  • GICs, Synthetic GICs, Guaranteed Separate Accounts, MTNs and other funding agreement type products

Multiple Accounting Methodologies

PolySystems supports valuations and projections for all major U.S. statutory, tax and GAAP reserving methodologies.  We actively follow potential changes to reserving rules and guidelines, keeping our software compliant and ready for new regulations before they become effective.  PolySystems also supports Purchase GAAP for VOBA and other intangibles, and economic reserves and capital for ORSA, pricing and other applications.

Statutory and GAAP reserve capabilities and features for immediate annuities include:

  • Guidelines 9A for substandard lives and 9B for individual structured settlements and SPIAs
  • NY Reg 128 for separate account products
  • NY Reg 151 interest guarantee reserves
  • GAAP benefit reserves and FAS 133 support for embedded option values
  • Supports early and delayed retirement calculations
  • Supports separate payment streams for L1/L2 and contingent/noncontingent

Output and Analysis

PolySystems produces a wide variety of standard and custom output.   We offer a vast library of predefined reports, including GAAP and statutory balance sheets, income statements, cash flow statements and over 280 other valuation and projection reports applicable to a multitude of modeling applications.  These reports are available at the seriatim level, in aggregate, or on a grouped (e.g. cohort) basis.

Detailed audit reports can be generated for hand checking calculations or sharing with auditors.  The software also includes a robust report writer for developing custom PolySystems reports.  For complete flexibility, detailed data files are available containing every calculated variable.  These can be uploaded to any data warehouse for use with third party reporting applications.

We encourage you to contact us for further inquiries or to request a demo.