PRODUCTS POWERED BY PRECISION: LE*XTRAS™ (L&E XXX Traditional Reserve Actuarial System) funnels our years of experience and technical insight into precise solutions for all of your life insurance product needs. As a Windows-based proprietary software program, LE*XTRAS™ generates tables of cash value and reserve factors as well as audit detail for products under past or current regulatory requirements:
- Whole Life
- Retirement Income
- Endowment
- Deposit Term
- Level Term
- Indexed Death Benefit Whole Life
- Decreasing Term (Annual and Monthly)
FEATURES THAT COUNT: LE*XTRAS™ offers flexibility that addresses valuation, pricing and regulatory issues in a variety of ways:
- Valuation reports generate basic life insurance reserves (mean, interpolated or mid-terminal), nondeduction reserves, immediate payment of claim reserves, deficiency reserves, and premium refund reserves. Statutory and/or tax reserves may be generated.
- Net and gross due and deferred premiums are summarized in the valuation reports along with gross advance premiums. Statutory and tax net premiums are utilized.
- Tax reserve valuation performed at the policy level based on reserve and premium components compared to the policy's cash value.
- Full "XXX" options. LE*XTRAS™ generates unitary and segmented reserves. Final tables of basic, deficiency or combined basic and deficiency reserves may be produced. LE*XTRAS™ ensures compliance with "X Factor" limitations under Section 5.B of the Model Regulation. It also permits unitary reserve exemptions under Section 6., subsections C through H.
- Generates complete tables of Statutory and Tax Basis Reserve factors.
- Flexibility to build a hierarchy of products with "copy" ability to avoid redundant inputs.
- Selection of pricing and/or valuation mortality tables for calculation of values. LE*XTRAS™ includes all selection factors for application under current valuation requirements.
- Generation of ETI and RPU Tables.
- Audit Feature allows you to calculate detailed durational values for any in-force or new policy.
- Clipboard features allow easy input/export of mortality, premium rate and factor tables to spreadsheet or other applications.
- LE*XTRAS™ displays all annuity and life insurance valuation interest rates, Applicable Federal Interest Rates (AFIR) and IMR grouped amortization schedules based on user defined parameters.
- LE*XTRAS™ will be updated to reflect changes in current interest rates, mortality tables and valuation requirements. The system includes the new 2001 CSO Table.
- LE*XTRAS™ can "feed" LEAPPS® to reduce time in coding plan/issue age cells for pricing and corporate modeling.
- Generates reserves for immediate annuities and structured settlements based on defined benefit structures.
- Supports Actuarial Guideline XXV dealing with indexed death benefit whole life.
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