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Tips & Tricks
Top 10 Reasons
- to buy a Pilot
it works. - Select the Inception Date of the
policy using the top two pull-downs. Select the Cancel
Date of the policy using the bottom two pull-downs.
- Works on OS v.3.0, OS v.2 and OS v.1, however, can only
accept Premium Amounts up to $32,767.99 on OS v.1
POLICY PERIOD: rPremium assumes a 1-year policy period (365 days).
DOLLAR RANGES: rPremium accepts Premium Amounts from $1 to 9,999,999.99 on OS v.2 and $1 to 32,767 on OS v.1
FACTORS: Pro Rata is generally used when the insurer cancels the policy. Short Rate is generally used when the insured cancels the policy. Short Rate is 90% of Pro Rata.
ROUNDING: The Factor is rounded to 3 decimal places before being applied to the Premium just like the 'wheel' charts. The Return Premium is rounded to 2 decimal places (currency) after calculation.
SCREEN REFRESH: The Calculate button must be tapped to update the result fields after any changes have been made to the input fields.
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