| Duration for renewable, level and decreasing terms and duration of limited pay and graded premium whole life - represented in years as integer; if coverage is for life or not applicable, integer will = 0.This directly relates to 'Term' coverage types and limited pay and limited premium related coverage types. In such cases, this is the number of years the coverage is designed to be inforce. E.g. for a 20-year term life coverage, the duration design would be valued as 20. For an annually renewable term product which has a level premium for 10 years and an insurance coverage period that ends at age 95 (with annually increasing premiums after 10 years), the LevelPremiumPeriod would be 10 years and the DurationDesign would be calculated as 95 minus the issue age. This is also known as the insurance coverage period. |