Frequently asked questions about AnnuityValue

1. What is AnnuityValue?

AnnuityValue is a unique, web-based, actuarial tool used to derive annuity factors in a simple, easy way!

2. What are some of the features of AnnuityValue?

You can use AnnuityValue to generate Single Life, Joint Life, PBGC Lump Sum, and Expectation of Life values quickly and easily. The user can also derive individual age conversion factors.

3. What is the difference between AnnuityValue version 3.1 and version 6.1?

AnnuityValue version 6.1 contains all the features in AnnuityValue version 3.1 plus the ability to determine annuity values with varying interest rates over segmented duration periods.

4. What are segmented duration periods?

This represents a situation where the interest rate varies over different time periods of the annuity payments.

For example,

4% for years 1 - 5

5% for years 6 – 20

6% for years after 20

5. What are the 3 different annuity calculation methods?

In version 6.1 and higher, users may calculate annuities using 3 different methods:

Standard Method – Benefit payments are discounted using a constant interest rate for all payments in all years. Segmented periods of time are not considered.

Select and Ultimate Method – Benefit payments are discounted using the designated interest rate over each segmented period.

Pension Protection Act Method - Benefit payments are discounted for ALL years using the interest rate for which the payment is made during a segmented period.

6. Who would want to use AnnuityValue?

Any professional employed in the benefits service industry. This includes actuaries, attorneys, accountants, financial planners, benefit administrators, and insurance professionals.

7. What type of actuarial software tool is AnnuityValue?

AnnuityValue is a web-based application written in Perl.

8. What are the system requirements for running AnnuityValue?

All that is needed is a web-browser and access to the Internet. Internet Explorer 5.0 or higher or Mozilla Firefox is recommended.

9. How do I copy the values I see on the screen to Excel?

Do the following:

After the values are generated,

Go to the top menu bar of your browser

Select Edit / Select All

Select Edit / Copy

Go to Excel

Select Edit / Paste from the menu bar in Excel

10. Can AnnuityValue be used to determine Relative Value of Benefit Option comparisons?

Yes. AnnuityValue is a great aid in determining Lump Sum benefits used for Relative Value of Benefit Option comparisons.

11. Why is AnnuityValue so inexpensive?

We have taken great efforts to obtain a reliable, cost-effective, web host provider. The savings are passed on to our users.

12. How do I purchase AnnuityValue?

There are 3 options for purchasing AnnuityValue.

· If you have a Paypal account you can use it for purchase.

· If you do not have a PayPal account you may purchase by credit card.

· You may purchase by check by completing the order form and sending a check to us.

13. Why is there only a one-time fee? Will I ever be billed again?

You will NEVER be billed again! We do not see the need of requiring users to pay an ongoing fee for our services.

14. Upon purchasing, how long do I have to wait before I can use AnnuityValue?

Once we receive a completed order users are notified of your log-in instructions and a receipt of purchase within 12-24 hours.

15. Do I have access to the mortality table data provided with AnnuityValue?

Yes, you can easily download, edit, and upload the mortality table data used by AnnuityValue. From the AnnuityValue application, select the Mortality Table Manager / Update link to view instructions on how to update the mortality table database.

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