| Accidental Death & Dismemberment | OLI_PRODTYPE_ADD | 51 | Accidental Death & Dismemberment (ADD) insurance provides a benefit if the death or
dismemberment may be resulting from an accident. | |
| Accidental death or disability policy | OLI_PRODTYPE_ACCDEATHORDISABILITY | 305 | | |
| Accident and Health | OLI_PRODTYPE_ACCHEALTH | 25 | | |
| Auto | OLI_POLPROD_PC_AUTO | 42 | This product type is Automobile insurance. Which covers insuring a vehicle for loss or
repairs after an accident. | |
| Boat | OLI_POLPROD_PC_BOAT | 44 | Boat coverage will provide shelter to your boat and protection for you and your
passengers. | |
| Cancer | OLI_PRODTYPE_CANCER | 21 | A very narrow form of health insurance that covers the policyholder in the event he or
she contracts cancer. Policies often exclude skin cancer. Some policies will not pay for
cancer treatments until several years after the policy was purchased. Consumer groups and
insurance regulators have said cancer insurance policies are more expensive than they are
worth, since the insurance companies pay out a rather small percentage of the premiums they
collect. | |
| Combo | OLI_POLPROD_PC_COMBO | 46 | A combination of various Property and Casualty insurance policies, for example a Home and
Auto policy combined into one, or an Auto and Boat, where a partied would share roles on
the same policy, for example the driver of the boat and driver of the auto. | |
| Contingent Deferred Annuity | OLI_PRODTYPE_CDA | 59 | The Contingent Deferred Annuity (CDA) design establishes a lifetime income floor for purchasers at or near retirement while still allowing them to take advantage of potential market returns. A CDA is essentially a stand-alone guaranteed living withdrawal benefit, thus providing many of the same benefits and sharing many of the same risks associated with the guaranteedliving benefits issued as part of Variable Annuity (VA) contracts with living benefits. | |
| Credit Mortgage | OLI_PRODTYPE_CREDITMORT | 32 | | |
| Critical Illness | OLI_PRODTYPE_CRITICALILL | 30 | 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. | |
| Death Income Stream | OLI_PRODTYPE_INCOMEDEATH | 303 | Policy pays out an income stream instead of lump sum. | |
| Dental | OLI_PRODTYPE_DENTAL | 54 | Dental insurance provides coverage for the cost associated with dental care based on the
conditions, benefits and choices of treatment specified within the policy. | |
| Disability Buy-Out | OLI_PRODTYPE_BUYOUT | 24 | A Disability Buy-Out Insurance policy that will fund an agreement designed to provide the company owners with the money they need to purchase a disabled owner's interest in the company at a mutually agreeable price and at the correct time. | |
| Disability Income Replacement Long Term | OLI_PRODTYPE_DISINCMREPLLT | 410 | | |
| Disability Income Replacement Short Term | OLI_PRODTYPE_DISINCMREPLST | 408 | | |
| Disability Lump Sum | OLI_PRODTYPE_DISABILITYLUMPSUM | 304 | Disability Policy that pays only a lump sum. | |
| Dread Disease | OLI_PRODTYPE_DISEASE | 16 | 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_PRODTYPE_DREADIMPAIR | 306 | This is a base policy that covers the life assured in the event of either contracting a dreaded disease or becoming impaired. Payments made in respect of this policy can be temporary and/or permanent, depending on the nature of the disease or duration of the impairment. This product is usually only available to self employed graduated professional people | |
| Endowment | OLI_PRODTYPE_ENDOWMENT | 302 | Endowment insurance has elements of both term and permanent insurance. Like term
insurance, it provides a death benefit if the insured dies within a specified term. Like
whole life insurance, it provides a savings element (cash value). An additional feature is
that it provides a policy benefit if the insured lives to the end of the endowment
period. | |
| Errors and Omission Coverage | OLI_PRODTYPE_PC_EO | 40 | | |
| Excess Interest Life | OLI_PRODTYPE_EXINTL | 7 | 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. | |
| Experience Group Plan | OLI_PRODTYPE_EXPGROUP | 402 | This is a designation for a group plan covering a specific group of people that Gets
rates and benefits based on the experience of the group | |
| Fixed Annuity | OLI_PRODTYPE_ANN | 9 | Fixed annuities are insurance products. The guaranteed rate of return and payout are based on current age, life expectancy, and prevailing interest rates, among other factors. | |
| Fixed Indexed Annuity | OLI_PRODTYPE_FIA | 58 | An indexed annuity is a contract issued and guaranteed by an insurance company and offers protection against down markets with the potential for some investment growth, linked to an index strategy (e.g. S&P 500 Index). The indexed annuity has the potential to earn more interest than a traditional fixed annuity, when the market index is positive, while not losing principal or interest when the market index is negative. Typically, insurance company also guarantees a minimum interest rate in fixed indexed annuities. | |
| Funeral Policy | OLI_PRODTYPE_FUNERAL | 35 | | |
| Group Master Contract | OLI_PRODTYPE_GROUP_MASTER | 400 | | |
| Group Pension | OLI_PRODTYPE_PENSION | 414 | It is a grouped retirement fund opposed to a Retirement Annuity which is an individual
fund. | |
| Group Superannuation | OLI_PRODTYPE_GRPSUPER | 201 | | |
| Guaranteed Insurability Policy | OLI_PRODTYPE_GUARANTEEDINSUABILITY | 37 | | |
| Heart/Stroke | OLI_PRODTYPE_HEARTSTROKE | 48 | Pays for the treatment of myocardial infarction, stroke, cancer, kidney failure,
angioplasty, bypass and organ transplant based on selected amount and is reduced by a set
percentage at carrier specified age. | |
| Home | OLI_POLPROD_PC_HOME | 43 | A basic home policy covers perils, which are specifically named risks such as lightning,
theft, fire, smoke, wind and explosion. | |
| Home Health Care | OLI_PRODTYPE_HHC | 47 | Benefit pays for expenses incurred for home and community care services such as a nurse
or licensed therapist, adult day care, hospice care, respite care, equipment/home
modification, caregiver training, home health aide/personal care attendant, homemaker
services, and chore services. There are other services that could fall into this
category. | |
| Hospital/Surgical | OLI_PRODTYPE_HOSPSURG | 19 | A health insurance policy that provides a predetermined flat benefit amount for each day an insured is hospitalized; the amount
does not vary according to the amount of medical expenses the insured incurs. | |
| Hospital Indemnity | OLI_PRODTYPE_HOSPINDEM | 14 | Health insurance that provides a stipulated daily, weekly, or monthly payment to an insured person during hospital confinement, without regard to the actual confinement expense. | |
| Income Replacement | OLI_PRODTYPE_INCREPLC | 12 | Benefit in disability income insurance whereby an injured or ill wage earner receives a monthly income payment to replace a percentage of his or her lost earnings. | |
| Indeterminate Premium | OLI_PRODTYPE_INDETERPREM | 41 | A type of nonparticipating whole life policy that specifies two premium rates, both a
maximum guaranteed premium and a lower premium rate. The insurer charges the lower rate
when the policy is purchased and guarantees that rate for at least a stated period of time
such as one year, two years, five years, or ten years. | |
| Indexed Annuity - not otherwise specified | OLI_PRODTYPE_INDX | 11 | Indexed annuities have characteristics of both fixed and variable annuities. They offer a minimum guaranteed interest rate combined with a rate linked to a market index such as the S&P 500 Composite Stock Price Index. | |
| Indexed Universal Life | OLI_PRODTYPE_INDXUL | 5 | Indexed universal life (IUL) insurance is a type of permanent life insurance, meaning it has a cash value component along with a death benefit. The money in a policyholder's cash value account can earn interest by tracking a stock market index selected by the insurer, such as the Nasdaq-100 or the Standard & Poor's 500.These products may also have a fixed-rate account and policyholders can choose how much they want to go into each account.Although the interest rate derived from the equity index account can fluctuate, the policy does offer an interest rate guarantee, which limits losses.It also may cap gains. These policies are more volatile than fixed universal life policies, but less risky than variable UL insurance policies because no investment is made in equity positions. | |
| Individual Superannuation | OLI_PRODTYPE_INDSUPER | 202 | | |
| Intensive Care | OLI_PRODTYPE_INTENSIVECARE | 49 | Pays a selected dollar amount for Intensive Care Unit (ICU) stays. This would be a
supplement to other insurance providing the same type of benefit. | |
| Interest Sensitive Whole Life | OLI_PRODTYPE_INTWL | 6 | 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". | |
| Life Linked Investment | OLI_PRODTYPE_LISP | 415 | 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. | |
| Long Term Care | OLI_PRODTYPE_LTC | 17 | This is day-to-day care that 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 Disability | OLI_PRODTYPE_LTD | 53 | Long Term Disability (LTD) insurance provides a replacement of monthly earnings to
insureds that become disabled for extended periods of time due to an accident or
sickness. | |
| Major Medical | OLI_PRODTYPE_MAJORMED | 13 | | |
| Medical Expense | OLI_PRODTYPE_MEDEXP | 20 | Medical expense insurance provides coverage against loss from illness or bodily injury
based on the conditions, benefits and choices of treatment specified within the policy.
This coverage can be used to pay for medicine, visits to the doctor, hospital stays, and
other medical expenses. | |
| Medicare Supplement | OLI_PRODTYPE_MEDCARE | 15 | A policy designed to act as a supplement to Medicare. The supplement is in the form of
additional benefits to that provided by Medicare. The additional benefits are in the form
of payment for medical expenses incurred but excluded by Medicare's deductibles– by limitations on approval medical charges, by limitations on length and type of
care in nursing facilities, and by limitations imposed by various cost-sharing
requirements. Most of these policies pay substantially less than 100% of the expenses not
covered under Medicare. Also known as Medigap insurance. | |
| Nursing Home | OLI_PRODTYPE_NURSE | 18 | | |
| Open Ended Investment | OLI_PRODTYPE_OPENINVEST | 33 | | |
| Open ended investment policy for Retirement | OLI_PRODTYPE_OPENDEDRETIREINVESTMENT | 39 | | |
| Other | OLI_OTHER | 2147483647 | | |
| Overhead Expense | OLI_PRODTYPE_OVREXP | 23 | 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. | |
| Package | OLI_PRODTYPE_PACKAGE | 101 | | |
| PELP | OLI_POLPROD_PC_PELP | 45 | Personal Excess Liability Policy, which is an Umbrella coverage policy protecting your
assets against lawsuits by providing additional liability coverage. | |
| Preservation Pension Fund | OLI_PRODTYPE_PRES_PENFND | 307 | 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_PRODTYPE_PRES_PROVFND | 308 | 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_PRODTYPE_PROVIDENT | 413 | 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 | |
| Registered Indexed Annuity | OLI_PRODTYPE_RXA | 56 | A registered indexed annuity is an individual index-linked annuity contract registered as a security. The contract offers the ability to participate in index-linked market gains while proving a level of protection against index-linked market losses. It is registered because it may lose money. | |
| Registered Indexed Universal Life | OLI_PRODTYPE_REGINDXUL | 417 | Registered Indexed Universal Life (RIUL) is a modified version of Indexed Universal Life (IUL) that can provide enhanced policyholder value compared to IUL. Such a product is especially relevant in the prevailing, persistent low interest rate environment. Similar to IUL, RIUL will credit interest based on index growth. Unlike IUL and similar to variable universal life, the policyholder assumes some degree of downside market risk that will result in a limited negative growth in account value during a market downturn. RIUL could be attractive to consumers seeking cash accumulation universal life and IUL products and who have a greater risk appetite and longer investment horizon. | |
| Retirement Annuity | OLI_PRODTYPE_RETANN | 301 | | |
| Retirement Plan | OLI_PRODTYPE_RP | 416 | A plan or account designed for providing the accumulation and then later payout of assets
for the purpose of providing continued income in retirement. It may or may not include
insured products, like life insurance, annuities, long term care and most likely will
include other non-insurance products such as funds, bonds, etc. They may also be qualified
or non-qualified. | |
| Retrenchment Benefit | OLI_PRODTYPE_RETRENCH | 411 | An income replacement type benefit should the client become retrenched from their job (unemployed). | |
| Short Term Care | OLI_PRODTYPE_STC | 50 | Limited Benefit convalescent care with a maximum lifetime benefit set in the policy.
Could include: payments for Facility Care including a bed reservation; payments for home
care visits by a nurse, aide or therapist; payments for supplies such as a wheelchair or
hospital bed and could pay for hospice care and adult day care. | |
| Short Term Disability | OLI_PRODTYPE_STD | 52 | Short Term Disability (STD) insurance provides a replacment of employment wages during a
leave of absence due to an injury or sickness that prevents an insured from attending work
for a brief period of time. | |
| Term | OLI_PRODTYPE_TERM | 2 | A plan of insurance that covers the insured for only a certain period of time (term not for their entire life). The policy pays death benefits only if the insured dies during the term. | |
| Term with Cash Value | OLI_PRODTYPE_TERMCV | 26 | | |
| The Sickness and Permanent Incapacity | OLI_PRODTYPE_SICKIMPAIR | 412 | Sickness: shall mean any disability resulting from disease, injury, accident or other
cause or condition, that necessitates medical or dental treatment."Permanent Incapacity" shall mean that the Policyholder is significantly
prevented, due to Sickness, from carrying out his professional duties or other such
professional duties as his professional qualifications and experience enable him to carry
out and there is little likelihood of him again being fully able to carry out such
professional duties and he shall be deemed either totally or partially Permanently
Incapacitated accordingly. | |
| Travel Accident | OLI_PRODTYPE_TRAVACC | 22 | An accident death benefit often included in group insurance policies issued to
employer-employee groups. This benefit is payable only if an accident occurs while an
employee is travelling for the employer. | |
| Universal Life | OLI_PRODTYPE_UL | 3 | 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. Universal Life products involve a fixed set of investments over which the client has no control. | |
| Unknown | OLI_UNKNOWN | 0 | | |
| Variable Annuity | OLI_PRODTYPE_VAR | 10 | Variable annuities are investment products with insurance features. They allow the selection from a menu of investment choices, typically mutual funds. The value of a variable annuity depends on how the investment choices perform. | |
| Variable Indexed Annuity | OLI_PRODTYPE_IVA | 57 | An individual variable and index-linked annuity offering variable subaccount(s) and index-linked allocation strategies. The product offers the ability to participate in index-linked market gains, while providing a level of protection against index-linked market losses. | |
| Variable Universal Life | OLI_PRODTYPE_VUL | 4 | 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_PRODTYPE_VWL | 8 | The face value and the cash value of the policy fluctuate according to the investment performance of a separate account fund. | |
| Vision | OLI_PRODTYPE_VISION | 55 | Vision insurance provides coverage for the services rendered for eye care based on the
conditions, benefits and choices of treatment specified within the policy. | |
| Whole Life | OLI_PRODTYPE_WL | 1 | A plan of insurance for life, with premiums payable for a person's entire life. Life insurance payable to a beneficiary upon the death of an insured, whenever that event occurs. | |