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Title (OLI_LU_COVTYPE)

Coverage Type

Definition

Used By

Coverage (LifeCovTypeCode)
CoverageProduct (LifeCovTypeCode)
Exclusion (LifeCovTypeCode)

Codes

Description	Name	Value	Definition	Notes
Accelerated Benefit	OLI_COVTYPE_ABE	147	Benefits available in some life insurance policies before death. Usually triggered by long-term, catastrophic or terminal illness. Also known as living benefits.
Accelerated Payment Rider	OLI_COVTYPE_ACCPAY	153	Permanent insurance that allows the policy to be paid-up rapidly through guaranteed accelerated payments
Accidental Death and/or Disability	OLI_COVTYPE_ADIB	127	Accidental Death and/or Disability Benefit pays out in the event of either one or more events.
Accidental Death and Dismemberment	OLI_COVTYPE_ADD	133
Accidental Death Benefit	OLI_COVTYPE_ACCDTHBENE	23	The face amount of a life insurance policy is payable only if the insured dies as the result of an accident. OR It can be sold as a supplementary death benefit rider that provides for an amount of money in addition to the face amount of a life insurance policy. This additional amount is also payable only if the insured dies as the result of an accident.
Accidental Disability Benefit	OLI_COVTYPE_ACCDISBENE	31
Accidental Fracture	OLI_COVTYPE_ACCFRAC	154	Covers accidental bone fractures
Accumulated Dividend	OLI_COVTYPE_ACCUMDIV	22	Dividend option under which a policy's dividends are left on deposit with the company to earn interest. Both the interest and accumulated dividends are available to the policyholder for withdrawal at any time.
Activities of Daily Living Income Benefit Rider	OLI_COVTYPE_INDLIVING	159	Rider that provides additional benefits when the insured is ADL disabled.
Adjustable Premium Whole Life	OLI_COVTYPE_WLADJ	152	Adjustable whole life policies are permanent policies that provide lifetime protection but do not offer guaranteed premiums. Adjustable whole life policies ties premium to interest rates. If interest rates decrease, premiums may adjust upwards. However, if interest rates increase, premiums will do the logical opposite and shift downward.
Aids	OLI_COVTYPE_AIDS	52
Annuity	OLI_COVTYPE_ANNUITY	20	a) A series of payments made or received at regular intervals. b) A contract that provides for a series of payments to be made or received at regular intervals. Annuity is valued at fixed rate.
Auto Adjust of death benefit for tax exempt status	OLI_COVTYPE_AUTOADJUST	155	Automatic Adjustment of death benefit for tax exempt status.This option allows for the automatic adjustment of the policy value to the minimum amount necessary to maintain the policy tax exempt status.
Business Value Increase	OLI_COVTYPE_BUSVALINC	146	Automatic increase option that is tied to valuation of the business. As the business value goes up, the face amount of policy increases.
Cancer - Stage 0	OLI_COVTYPE_PRECANCER	144	Benefits payable from Stage 0 cancer. This form of cancer is characterized as a defined malignant tumour without the invasion of surrounding tissue and may be known as precancer or early cancer.
Cancer - Stage 1	OLI_COVTYPE_CANCER	62	Benefits payable from Stages 1 - 4 cancer, and includes bone marrow disease.
Charitable Giving Benefit - specified amount	OLI_COVTYPE_CHARITY	171	This rider provides an additional death benefit, specified as a flat amount, to a charity designated by the policy owner
Child birth benefit	OLI_COVTYPE_CHILDBRTH	71	Covers birth defects for future children.
Child critical illness	OLI_COVTYPE_CHILDCRIT	60	Covers a range of critical illnesses, such as cancer, organ transplantation, some severe infections, heart abnormalities
Child Term Rider	OLI_COVTYPE_CHILDTERM	116	Insurance protection that offers level term premiums, level death benefit, and an option to convert at specified times for eligible children.
Combined Risk Benefit	OLI_COVTYPE_COMBI	134	A single benefit that covers multiple risks. This may also be known as a "combined benefit." Typically, this will be used to represent different permutations of combined benefits, eg disability and/or dread disease covered in a single benefit.
Compassionate Leave Benefit	OLI_COVTYPE_COMPLVBENE	157	Covers income loss of the care provider in the event of illness or disability of the insured.
Conditional Receipt	OLI_COVTYPE_CONDRECEIPT	142	In life insurance, a receipt for premiums received from the applicant, typically at the time of sale, which provides conditional insurance coverage as defined in the receipt. The conditional insurance coverage continues until the insurance company either refunds the premium or accepts the risk and issues the policy. Coverage under a Conditional Receipt (as opposed to Temporary Insurance Agreement) is conditional on the person being insured having completed all medical requirements and being insurable on the premium basis applied for. Often, insurance companies only issue conditional receipts up to certain death benefit limits, for example below $250,000.
Connective tissue diseases	OLI_COVTYPE_CTD	63	Covers autoimmune illnesses that cause the body to attack its own joints, vessels or tissues.
Cost of Living Adjustment / Inflation Guard	OLI_COVTYPE_COLI	145	Tied to government index, usually CPI.
Credit Mortgage	OLI_COVTYPE_CREDITMORT	35
Critical Illness	OLI_COVTYPE_CRITILLNESS	33	Critical Illness is designed to assist individuals by cover excess expenses (usually beyond what health care or disability insurance would cover) in the event that an individual contracts one of the diseases (usually 5-7 diseases) named in the policy. It usually pay a lump sum upon proof of claim.
Critical illness premium waiver	OLI_COVTYPE_WPCRIT	42	Covers cost of the policy contributions in the event of the principal insured becoming severely ill.
Danish Annuity Certain Savings Coverage 175	OLI_COVTYPE_DENSAVINGS175	104	175 is a Danish Annuity Certain Savings Coverage
Danish Death Annuity Certain Coverage 165	OLI_COVTYPE_DENDTHANNUITY165	108	165 is a death annuity coverage
Danish Death Lump Sum Coverage 115	OLI_COVTYPE_DENDTHLUMPSUM115	109	115 is death Lump sum coverage
Danish Deferred Annuity Savings Coverage 216	OLI_COVTYPE_DENDEFANNUITY216	106	216 is a Danish Deferred Annuity Savings Coverage
Danish Deferred Life Annuity Savings Coverage 211	OLI_COVTYPE_DENDEFLIFE211	105	211 is a Danish Deferred Life Annuity Savings Coverage
Danish Guaranteed Life Annuity Coverage 265	OLI_COVTYPE_DENGUARLIFEANN265	107	265 is a deferred annuity payable on death
Danish Lump Sum Savings Coverage 125	OLI_COVTYPE_DENSAVINGS125	103	125 is a Danish Lump Sum Savings Coverage
Disability (Income Protection) - Generic	OLI_COVTYPE_DISABILITY	14	Health insurance under which benefits are payable in regular installments designed to replace some of the insured's income if he or she becomes unable to work because of an illness or injury where the nature of the disability is unknown or not specified.
Disability (Income Protection) - Permanent	OLI_COVTYPE_PERMDISABILITY	162	Health insurance under which benefits are payable in regular installments designed to replace some of the insured's income if he or she becomes unable to work because of an illness or injury of a permanent nature. Benefits may be payable for a term less than the insured's lifetime. Refer to OLI_COVTYPE_LIFTOTDIS for Lifetime Benefits.
Disability (Income Protection) - Temporary	OLI_COVTYPE_TEMPDISABILITY	161	Health insurance under which benefits are payable in regular installments designed to replace some of the insured's income if he or she becomes unable to work because of an illness or injury of a temporary nature.
Disability - Loan Protection	OLI_COVTYPE_DIMORTGAGE	156	Makes payments towards your mortgage or other long term loan, in the event you are disabled.
Dread Disease	OLI_COVTYPE_DREADDISEASE	17	A type of medical expense policy that is designed to cover only those medical expenses incurred by an insured who has contracted a specified disease, such as cancer, which is named in the policy. Also known as limited coverage policy.
Dread Disease and Impairment	OLI_COVTYPE_DREADIMPAIR	122	Cover in the event of either the life assured contracting a dreaded disease or becoming impaired.
Education cover	OLI_COVTYPE_EDUCATION	70	Covers cost of education in the event of the principal insured becoming severely ill, disabled or dies.
Endowment	OLI_COVTYPE_ENDOWMENT	100
Enhanced cash value option	OLI_COVTYPE_ENHANCEDCV	151	Provides an enhanced first year cash surrender value if certain premium requirements are met.
Enhanced Disability Benefit	OLI_COVTYPE_ENHANCEDISABILITY	115	Pays the greater of a percentage of the annual target premium OR the monthly charges during the insured's total disability
Estate Protector Rider	OLI_COVTYPE_ESTATEPROT	26	A plan developed with the help of qualified professionals to designate who will inherit your assets and in what amounts. Also, who will care for your children, who will manage the distribution of your assets, and to some extent, taking into consideration federal estate taxes.
Excess Interest Life	OLI_COVTYPE_EXINTLIFE	12	Amount credited to the cash value of an insured's life insurance policy above the minimum interest rate it guarantees. This payment is of extreme importance to a policy owner since it will directly affect the size of the cash value.
Family Income	OLI_COVTYPE_FAMILYINC	25	A specialized individual policy, which combines whole life insurance with decreasing term insurance. The decreasing term portion of the policy provides an income for a predetermined period to help support the insured's' family.
Family Rider	OLI_COVTYPE_FAMILY	138	This type of coverage provides life insurance coverage on the insured's family, including spouse and children. The coverage provided through such a rider is term insurance and is often sold on the basis of coverage units and does not vary by actual number of individuals covered. Coverage on the child expires when the child reaches a specified age. Future children are automatically insured after birth, legal adoption, legal guardianship, etc. depending on policy provisions.Family riders include the privilege to convert the term part of the contract to permanent insurance, this insurance on dependents will become paid up when the primary insured dies, and there is a decrease in the premium and/or automatic increase in the amount of insurance on the primary insured if his or her spouse dies first.
Family Trauma Benefit	OLI_COVTYPE_FAMILYTRAUMA	132	Accidental, non self-inflicted injury to any area of the body. Family is defined as the principal life, spouse or companion, and children as defined by carrier rule.
Female benefit	OLI_COVTYPE_FEMCRIT	61	Covers female specific critical illness, such as pregnancy complications, female cancers and osteoporosis.
Flexible Additional Insurance	OLI_COVTYPE_FLEXADDON	24	This is actually level term insurance with an option to purchase additional insurance.
Funeral Expense	OLI_COVTYPE_FUNEXP	28
Future Premium Waiver	OLI_COVTYPE_PAIDUP	135	This benefit provides for the premiums to cease at a future date (usually at age 65), while all benefits remain active and in force for the balance of the policy term. It is effectively a way to insure future benefits after retirement.
Gastrointestinal disease	OLI_COVTYPE_GAST	66	Covers diseases of the gastrointestinal tract that results in continuous hospitalization, and terminal changes to these organs.
Global health care cover	OLI_COVTYPE_GLOBHLTH	68	Covers the cost of procedures in another country, where the prognosis of recovery is recognized to be better than that in the insured's domicile country.
Global Linkage Benefit Guarantee	OLI_COVTYPE_GLOBALLINKAGEBENEFIT	137	The Global Linkage Benefit Guarantee links the amount of risk coverage provided by other coverages on the contract to the performance of the global market. This is a type of benefit guarantee (or Death Benefit Guarantee) where the guaranteed amount is determined by the global market's growth. At the time of a claim, the amount of risk coverage will be determined by the GREATER of the Global Linkage Benefit Guarantee" amount (i.e. the CurrentAmt of the Coverage with the LifeCovTypeCode of "Global Linkage Benefit Guarantee") OR the benefit amount of the individual Coverage (i.e. the CurrentAmt of the Coverage paying the claim). The coverages that receive this benefit guarantee are not selectable. Rather, the benefit guarantee applies to other coverages on the Policy as defined by the product (i.e. it typically applies to all other coverages on the contract.
Group Pension	OLI_COVTYPE_PENSION	130	It is a grouped retirement fund opposed to a Retirement Annuity which is an individual retirement fund.
Guaranteed Insurability	OLI_COVTYPE_GIB	102
Guaranteed Survivor Purchase Option	OLI_COVTYPE_GUARSURVPURCH	15	Gives surviving joint insured on a first to die policy the right to buy insurance after the insured dies, without requiring evidence in insurance.
Heart and artery	OLI_COVTYPE_HEART	58	Covers diseases of the cardiovascular system
Hospital and surgical	OLI_COVTYPE_HOSPSURG	64	Covers disease or damage to the brain, nerves, spinal cord arteries that supply nerves and brain, and neuromuscular junctions.
Hospital Expense	OLI_COVTYPE_HOSPEXP	29
Indexed Universal Life	OLI_COVTYPE_INDXUNIVLIFE	10	Policy with a face value or cash value that varies according to a prescribed index of prices; otherwise benefits provided are similar to universal life. The death benefit is based on the particular index used, such as the Consumer Price Index (CPI).
Interest Sensitive Whole Life	OLI_COVTYPE_INTSENSITIVEWL	5	Whole life policies, which vary the premium rate to reflect changing assumptions regarding mortality, investment, and expense factors: these policies also specify that the cash value can be greater than that guaranteed if changing assumptions warrant such an increase. Also known as "Current Assumption Whole Life".
Joint Last to Die Conversion Option	OLI_COVTYPE_JNTLASTCOVOPTION	164	This allows for the policy to be converted from 'First to Die' to 'Last to Die' after policy issue.
Joint Partial Payout Death Benefit	OLI_COVTYPE_JNTPARTDEATHBENE	163	This coverage provides a partial payout of policy value when the first insured dies on a 'Joint Last To Die' policy.
Life Linked Investment	OLI_COVTYPE_LISP	131	This is a plan of which the savings element is invested under a LISP (Linked Investment Service Provider) licence in Unit Trusts and Shares that is also subject to Capital Gains Tax in the hands of the investor. However there could also be risk benefits included in this plan that is then sold under the LIFE licence. It is therefore a combination of LISP savings with LIFE risk benefits that is sold as one product.
Lifetime Total Disability	OLI_COVTYPE_LIFTOTDIS	32	Provision in some disability income policies that provides a monthly benefit to a total disabled insured for the lifetime according to the definition of disability in the policy.
Long Term Care	OLI_COVTYPE_LTC	16	This is a day-to-day care that the patient (generally older than 65) receives in a nursing facility or in his or her residence following an illness or injury, or in old age, such that the patient can no longer perform at least two of the five basic activities of daily living: walking, eating, dressing, using the bathroom, and mobility from one place to another.
Long Term Care Accelerated Benefit Option	OLI_COVTYPE_LTCABO	150	Defined as an accelerated cash value benefit for long term care expenses.
Maternity Leave Income	OLI_COVTYPE_MATERNITY	140	Provides benefits for the life assured if they are on maternity leave (irrespective of the outcome of the pregnancy).
Medical (health coverage) expense	OLI_COVTYPE_MEDEXP	30
Medical aid premium waiver	OLI_COVTYPE_WPMED	43	Covers cost of medical aid contributions in the event of the principal insured becoming severely ill, disabled or dies
Nervous system disease	OLI_COVTYPE_NERV	65	Covers disease or damage to the brain, nerves, spinal cord arteries that supply nerves and brain, and neuromuscular junctions.
Open Investment for Retirement	OLI_COVTYPE_OPENINVESTMENTRETIRE	51
Open Investment Option	OLI_COVTYPE_OPENINVESTMENT	50
Other	OLI_OTHER	2147483647
Overhead Expense	OLI_COVTYPE_OVREXP	27	Insurance for business owners to help offset continuing business expenses if the owner is disabled. OR Type of disability income policy used to provide funds for the ongoing monthly business expenses (such as employee salaries, utility charges, rent, and equipment payment due) necessary to maintain continuing operations in the event an owner/key person becomes disabled. Generally, there is a 60-day elimination period after which monthly income payments commence until a stipulated aggregate limit has been reached.
Pays in event of Comprehensive Dread Diseases during Term	OLI_COVTYPE_TERMDREADCOMP	57	This cover applies to Disability payments in event of Comprehensive Dread Disease - as a Stand-alone benefit for a specific term.tc=17 Dread disease is used for Core Dread disease
Pays in event of functional impairment	OLI_COVTYPE_FUNCIMP	56	This applies to Disability payments in event of Functional impairment - as a Stand-alone benefit
Pays in event of Own and/or Similar Occupation Disability	OLI_COVTYPE_DISSIMOCC	55	This applies to disability payments in event of Disability to exercise Regular and/ or Similar Occupation as a Stand-alone benefit
Pays in event of Own Occupation Disability	OLI_COVTYPE_DISREGOCC	54	This applies to disability payments in event of Disability to exercise his/her Regular (Own) Occupation as a Stand-alone benefit
Permanent or Partial Incapacity	OLI_COVTYPE_PPINC	123	Permanent or Partial Combination benefit that covers permanent incapacity and or partial incapacitation. Payments made in respect of this policy can be temporary and/or permanent duration of the incapacity. This benefit can be freestanding (base benefit) or a rider.
Premium Lock In Benefit	OLI_COVTYPE_LOCK	136	This benefit allows for all premium increases and benefit increases to cease at a future date (usually at age 65). It locks the premium and Benefits at that future date.
Preservation Pension Fund	OLI_COVTYPE_PRES_PENFND	124	At retirement, a member may take up to one third of the capital as a lump sum. The remaining two thirds must be used to provide a pension for life. Tax is deducted at retirement. A member can make one taxable ad hoc withdrawal from the fund before retirement.
Preservation Provident Fund	OLI_COVTYPE_PRES_PROVFND	125	At retirement, a member may take the full proceeds as a lump sum. Member may purchase a Life Annuity with the proceeds or after tax has been deducted, one may also invest the lump sum. A member can make one taxable ad hoc withdrawal from the fund before retirement.
Provident Fund	OLI_COVTYPE_PROVIDENT	129	It is a grouped retirement fund opposed to an individual endowment policy. The tax implication for the proceeds of provident fund and a provident owned endowment policy differs from that of an individual endowment policy
PUA Dividends	OLI_COVTYPE_PUADIV	19	An option under a participating life insurance policy by which the policy owner can elect to have the dividends purchase paid-up increments of permanent insurance.
PUA Rider	OLI_COVTYPE_PUARIDER	18	A life insurance option plan under which all premiums have already been paid, with no further premium payment due.
PVT WS Loss of Sight or Limb	OLI_COVTYPE_SIGHTLIMB	37
Renewal Protection Rider	OLI_COVTYPE_RENPROT	166	Allows the client to pay an additional premium today in exchange for lower renewal premiums without the benefit
Respiratory disease	OLI_COVTYPE_RESP	67	Covers impairment of lung function, excluding pulmonary embolus.
Retirement Annuity	OLI_COVTYPE_RETANNUITY	101
Retrenchment Benefit	OLI_COVTYPE_RETRENCH	126	An income replacement type benefit should the client become retrenched from his job (unemployed).This benefit is sold as a standalone OR it can be sold as a supplementary benefit.
Return of Premium - End of Specified Term	OLI_COVTYPE_ROPT	139	As defined by the contract, Return of Premium provides for the return of eligible premiums at the end of a defined period, if the insured is still living and the policy is in force.
Return of Premium on Critical Illness	OLI_COVTYPE_CIROPRIDER	170	Return of eligible premium in event of a critical illness
Return of Premium on Death	OLI_COVTYPE_COSTREC	148	Term insurance rider whose death benefit is equal to the eligible cumulative premiums paid to the policy purpose being if a person dies in any given year, you get back all the premiums. Also known as Cost Recovery.
Return of Premium on First Death	OLI_COVTYPE_COSTREC1ST	167	For joint life policies, the eligible cumulative premium is returned upon the death of the first person. Also known as Cost Recovery.
Return of Premium on Second Death	OLI_COVTYPE_COSTREC2ND	168	For joint life policies, the eligible cumulative premium is returned upon the death of the second person. Also known as Cost Recovery.
Return of Premium on Surrender	OLI_COVTYPE_MBGUAR	149	On a full surrender, the return of eligible premiums (initial, unplanned, and any Benefit Increase premiums). Also known as Money Back Guarantee.
Sale of Business Facilitation	OLI_COVTYPE_SALEBUS	160	Provides a lump sum payment to pay the expenses of the sale of the client's business in the event of long term disability.
Scheduled increasing benefit	OLI_COVTYPE_INCRBENERIDER	169	Allows for a benefit increase on a scheduled basis.
Second Event Rider	OLI_COVTYPE_SECEVT	158	Allows for the claim and payment of one additional Critical Illness claim (for example, Life-Threatening Cancer or Heart Attack) on the policy when Life-Threatening Cancer or Heart Attack was the reason for the initial claim payment.
Sickness Benefit	OLI_COVTYPE_SICKBEN	121	This benefit covers any sickness which prevents the client from working for any given period. The sickness does not have to be critical or permanent in nature.
Spouse or Child Critical Illness	OLI_COVTYPE_SPOUSECHILD	143	Pays a benefit amount, for example by some carriers up to six times the benefit amount specified on the qualifying coverage, if the life assureds' spouse or child meets specified critical illness claims criteria.
Supplemental Protection Rider	OLI_COVTYPE_SPR	165	Rider that allows insured to add an additional layer of (non-commissionable) face amount with lower charges. This is similar to a term rider but not considered term insurance. It provides coverage for the life of the contract; when a death claim is made, this rider pays an additional amount.
Temporary Insurance Agreement	OLI_COVTYPE_TIA	141	This is a receipt for premiums received with a term or permanent life insurance application, which provides temporary insurance coverage as defined in the receipt. Coverage usually continues until the insurance company either refunds the premium or accepts the risk and issues the policy. Coverage is not usually conditional on completing the medical requirements or being insurable on the premium basis applied for. Often insurance companies only issue Temporary Insurance agreements up to certain death benefit limits (such as below $250,000).
Term Decreasing Death Benefit	OLI_COVTYPE_TERMDECREASE	7	Amount payable, as stated in a term decreasing policy, upon the death of the insured. This is the value of the policy that declines by a stipulated amount over the term of the policy.
Term Increasing Death Benefit	OLI_COVTYPE_TERMINCREASE	8	Amount payable, as stated in a term increasing policy, upon the death of the insured. This is the value of the policy that increases by a stipulated amount over the term of the policy.
Term Level Death Benefit	OLI_COVTYPE_TERMLEVEL	6	Amount payable, as stated in a term policy, upon the death of the insured. This is the face value of the policy, less any outstanding loans and the interest accrued there on.
Universal Life	OLI_COVTYPE_UNIVLIFE	9	Adjustable life insurance under which(1) premiums are flexible, not fixed; (2) protection is adjustable, not fixed;(3) insurance company expenses and other charges are specifically disclosed to a purchaser.
Unknown	OLI_UNKNOWN	0
Urogenital tract and kidney	OLI_COVTYPE_KIDNEY	59	Covers disorders of the urogenital tract or kidney, requiring ongoing therapy or major surgery
Variable Annuity	OLI_COVTYPE_VARANNUITY	53
Variable Universal Life	OLI_COVTYPE_VARUNIVLIFE	11	A form of whole life that combines the premium and face amount flexibility of universal life with the investment flexibility and risk of variable life insurance. Also known as "universal life II" or "flexible-premium variable life policies."
Variable Whole Life	OLI_COVTYPE_VARWLIFE	13	The face value and the cash value of the policy fluctuate according to the investment performance of a separate account fund.
Vitality health	OLI_COVTYPE_VITALITY	69	Additional benefit that allows for intermittent reduction in risk rates for proof that the insured pro-actively maintains good health / improves their health.
Waiver of Monthly Deductions (WMD)	OLI_COVTYPE_WAIVMONTHDEDUCT	114	In flexible premium policies, the WMD rider causes the monthly deductions of the policy to be waived upon the disability of the primary insured.The WMD rider also keeps no lapse guarantee provisions in effect.
Waiver of scheduled (planned) premiums	OLI_COVTYPE_WAIVSCHED	21	"Waiver of scheduled (planned) premiums" (WSP or WPP) is not really a waiver rider at all, but rather a disability income coverage whose benefit is assigned back to the insurance company for the purpose of paying the policy's premium (including the "planned" investment component, or "excess premium"). The purpose of this rider is not only to keep the insurance in force, but also to keep the insured's investment objectives on track. This type of rider is typically used for products that have a flexible premium structure, such as Universal Life and Variable Universal Life.
Waiver on 50% Disability	OLI_COVTYPE_DENWVRDISAB50	110	Full waiver of premium with minimum 50% disability.
Waiver on 66% Disability	OLI_COVTYPE_DENWVRDISAB66	111	Half waiver of premium with between 50-66% disability and whole waiver of premium with disability over 66%.
Waiver on Death	OLI_COVTYPE_WAIVERDEATH	40
Waiver on Disability	OLI_COVTYPE_WAIVERDISABILITY	41
Waiver on Retrench	OLI_COVTYPE_WAIVERRETRENCH	128	Premium waiver in the event of someone being Retrenched (losing their job). Covers cost of the policy contributions in the event of the policy payer losing his/her job (unemployed).
Whole Life Graded Premium	OLI_COVTYPE_WLGRADPREM	4
Whole Life Limited Pay	OLI_COVTYPE_WLLIMITEDPAY	3
Whole Life Modified	OLI_COVTYPE_WLMODIFIED	2	Two methods of modifying whole life policies are: a) Modified premiums: A modified-premium whole life policy functions in the same manner as a traditional whole life policy except that the policy-owner pays a lower premium for a specified initial period (such as five years) than the policy owner would normally pay for a similar whole life policy that was not issued on a modified-premium plan. After the specified period, the premium increases to a stated amount that is somewhat higher than the usual (nonmodified) premium would have been. The face amount of the policy remains level during the entire period. This specified period is represented in the 'duration design' property in the OLifE model. b) Modified amount of coverage: It is based on the assumption that the need for large amounts of life insurance is likely to diminish, as the insured person grows older.
Whole Life Ordinary	OLI_COVTYPE_WLORDINARY	1