20150154710 | SYSTEM AND METHOD FOR CALCULATING A PREMIUM FOR A LIFE INSURANCE OPTION - A method for identifying a premium for a guarantee of future insurability includes: receiving a premium guarantee request, the request including an age, deferral period, and risk class; identifying a selected class based on the risk class; receiving a plurality of lapse rates, base mortality rates, and subclass mortality rates, each based on the received age and identified selected class and associated with a policy year and/or subclass; identifying an assumed lapse proportion; calculating a zero-lapsed selected mortality rate based on the received lapse rates, base mortality rates, and subclass mortality rates; calculating a premium based on the calculated zero-lapse mortality rate using a calculation pricing model, the premium corresponding to a guarantee for future insurability of a policy holder at the age after the deferral period at the selected class; and transmitting the calculated premium in response to the premium guarantee request. | 06-04-2015 |