DecrLifeInsPPA

DecrLifeInsPPA returns the net single premium for a decreasing life insurance based on based on the so-called PPA assumptions for interest (3 segment rates) and mortality (annuitant, non-annuitant, combined, applicable)

Syntax

DecrLifeInsPPA (CurrentAge, InterestRate1, InterestRate2, InterestRate3, CalcYear, MortTableType, InitialAmount, [Sex], [InsTiming])

Parameter Name

Description

CurrentAge

Current age of the annuitant (i.e. the age at the valuation date). May be provided as an integer, or as a fractional amount (e.g. years & months). If the age is not a whole number, the result is based on interpolation on results at whole ages.

InterestRate1

Segment rate 1 -- to discount payments made during the first 5 years (years 1 to 5). Must be a single number.

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%.

InterestRate2

Segment rate 2 -- to discount payments made during the next 15 years (years 6 to 20).

InterestRate3

Segment rate 3 -- to discount payments made after the first 20 years (years 21 and later).

CalcYear

The IRS table year, i.e. for distributions subject to § 417(e)(3) with annuity starting dates during stability periods beginning in CalcYear.

MortTableType

The type of static mortality table to use:

Type	Description
“ann”	annuitant table
“non”	non-annuitant table
“com” (or “small”)	optional combined table for small plans
“app”	applicable unisex table for distributions subject to §417(e)(3)

InitialAmount

Initial amount of life insurance, decreasing 1 per year.

Sex

“m” or “f”; not used if type of table is “Applicable Table” because this is a unisex table.

InsTiming

Defines when the payments are made in the year of death.
Optional, default = 1.

AnnTiming	Description
0 or .5 or “mid”	mid-year
1 or “end”	end of year