AESLtoLI calculates an actuarial equivalent factor to convert a
straight life annuity to a life annuity with a level income option based the
leveling age and fraction, and assumptions for interest, mortality, and the
values for the following parameters.
where 𝐴𝐸𝐹𝑎𝑐𝑡𝑜𝑟 is defined as:
Syntax
AESLtoLI (CurrentAge, CommencementAge, LevelAge, LevelFraction,
InterestRate, MortalityTable, [YearsCertain], [AgeSetback], [Frequency],
[COLA], [CalculationMethod], [NoPreRetMort], [AnnTiming])
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Parameter Name |
Description |
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CurrentAge |
Age
at valuation. |
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CommencementAge |
Age
at benefit commencement. |
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LevelAge |
Age at which amount of annuity changes
for the leveling option. |
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LevelFraction |
Fraction
of the original payment amount to be paid starting at LevelAge.
Where
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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%. |
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MortalityTable |
Mortality
table definition text string. |
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YearsCertain |
Number of years guaranteed payments. May
be an integer, or a factional amount (e.g. years & months). |
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AgeSetback |
Mortality table age set-back. A
negative number is a set-forward. |
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Frequency |
Number of payments per year:
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COLA |
Periodic cost-of-living
adjustment applied to the benefit amount. |
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CalculationMethod |
Method of calculation
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NoPreRetMort |
The defines the application of
pre-retirement mortality for a deferred annuity.
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StopAge |
Age when the annuity benefit
stops -- no payment at this age. |
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AnnTiming |
Defines when the payments are
made in the period.
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YrsCertOption |
This is to select the method of
calculation for the certain portion of the annuity when using CalculationMethod
=0. It does not apply for other methods. This is used only if YearsCertain
not a whole number.
|
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AESLtoLI
calculates an actuarial equivalent factor to convert a straight life annuity to
a life annuity with a level income option based the leveling age and fraction,
and assumptions for interest, mortality, and the values for the following
parameters.
where AEFactor is defined as:
Syntax
AESLtoLI (CurrentAge, CommencementAge, LevelAge, LevelFraction,
InterestRate, MortalityTable, [YearsCertain], [AgeSetback], [Frequency],
[COLA], [CalculationMethod], [NoPreRetMort], [AnnTiming])
|
Parameter Name |
Description |
||||||||||||||||||||||||||
|
CurrentAge |
Age
at valuation. |
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|
CommencementAge |
Age
at benefit commencement. |
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|
LevelAge |
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|
LevelFraction |
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|
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%. |
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|
MortalityTable |
Mortality
table definition text string. |
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|
YearsCertain |
Number of years guaranteed payments. May
be an integer, or a factional amount (e.g. years & months). |
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|
AgeSetback |
Mortality table age set-back. A
negative number is a set-forward. |
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|
Frequency |
Number of payments per year:
|
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|
COLA |
Periodic cost-of-living
adjustment applied to the benefit amount. |
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|
CalculationMethod |
Method of calculation
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NoPreRetMort |
The defines the application of
pre-retirement mortality for a deferred annuity.
|
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|
StopAge |
Age when the annuity benefit
stops -- no payment at this age. |
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|
AnnTiming |
Defines when the payments are
made in the period.
|
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YrsCertOption |
This is to select the method of
calculation for the certain portion of the annuity when using CalculationMethod
=0. It does not apply for other methods. This is used only if YearsCertain
not a whole number.
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