Policy Value Calculator: A description for the policy value calculator job

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Policy Value Calculator: Compiles and computes loan or surrender value of life insurance policy, using calculator, and rate books and tables: Computes amount payable to policyholder who drops insurance, allows insurance to lapse, or requests loan on policy, considering factors, for example unclaimed dividends, premiums paid in advance, length of time held, and principal sum (loan value), using calculator. Records values on sheet for preparation of correspondence to policyholder and entry onto master file. When working on dropped policies and policyholder requests full cash value, is known as Cash-Surrender Calculator (insurance industry). When working on dropped policies and policyholder does not request full cash value, prorates cash value to determine time policy may also be kept in force and is known as Extended-Insurance Clerk (insurance industry). When working on policy loans, calculates repayments, using interest tables, and is known as Policy-Loan Calculator (insurance industry). May also specialize in data related to pension plans and life insurance, for example premiums, dividends, retirements, and death benefits, and be designated Calculation Clerk (insurance industry). May also verify and recompute calculations made by other workers and be designated Calculation Reviewer (insurance industry).

Job industry: insurance industry

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