Parameter Name

Description

CurrentAgeX

Current age of the primary annuitant 𝑥 (i.e. the age at the valuation date). May be provided as an integer, or as a fractional amount (e.g. years & months).

CurrentAgeY

Current age of the secondary annuitant 𝑦 (i.e. the age at the valuation date). May be provided as an integer, or as a fractional amount (e.g. years & months).

InterestRate

The interest rate(s) to discount future payments to calculate the present value. May be a number, a percentage, a text string, a named range, or reference to a range.

·       Rates can be defined using these interest definitions.

·       Note: A value that is greater than 25% (i.e. 0.25) will be divided by 100; e.g. if you enter 2.75 it will be treated as .0275 or 2.75%.

MortalityTableX

·       Mortality table definition text string for primary annuitant 𝑥.

MortalityTableY

·       Mortality table definition text string for secondary annuitant 𝑦.
Optional, default = MortalityTableX.

AgeSetbackX

Mortality table age set-back for primary annuitant 𝑥. A negative number is a set-forward.
Note that you can also define a setback using the "/sb" option in the table definition (or "/sf").
Optional, default = 0.

AgeSetbackY

Mortality table age set-back for secondary annuitant 𝑦. A negative number is a set-forward.
Note that you can also define a setback using the "/sb" option in the table definition (or "/sf").
Optional, default = 0.

InsTiming

Defines when the cash refund life insurance payment is made.
Optional, default = 1.