1035 or Down Payment - Amount of 1035 proceeds or policy premium that client will pay out
of pocket to offset aggregate policy premiums.
Actual Spread - Percentage added to the Base Rate to derive the Contract APR.
Additional Days of Interest - Number of additional days of interest that will be used to calculate collateral requirements. This should be 0 if the Interest Type = Advance and should be 60 if it is Arrears or Deferred.
Age - Current age of the insured.
As Of - The date associated with the Base Rate. This will be the most current date for which Base Rate data is available.
Assumed Annual Index Interest Increase - The amount that the Base Rate is assumed to increase each year.
Assumed Max Aggregate Rate Increase - The maximum increase of interest rates (above current Base Rate) over the term of the loan. Default maximum interest increase is 5%. Once assumed Base Rate has increased by this amount, no additional annual interest increases can be added to the model.
Base Rate - The base rate for the loan (1 Year U.S. Treasury yield curve rate). Wintrust Life Finance charges rates derived from Base Rate + Spread.
Contract APR - Base Rate + Actual Spread.
Deferral Period (Years) - If the Interest Type is Deferred, the number of years (maximum 5 years) that the client wants to defer interest payments.
Insured Name - Name of the Insured for the Policy
Interest Type - Interest payment earning method can be Advance, Arrears or Deferred.
Policy Death Benefits - Projected end of year policy death benefit value.
Retained Capital Earning Rate - Average rate of return that the insured is projected to earn on outside investments.
Age - Projected age of the insured for a given year.
Annual Outlay Non-Financed Policy - Amount of aggregate premium that the client will need to pay out of pocket if they do NOT finance.
Cash Surrender Value Financed Policy - For Whole Life or Universal Life policies, projected year end cash surrender values should be populated using non-guaranteed values assuming current charges and interest crediting. For Indexed Universal Life policies, projected year end cash surrender values should be populated using current charges and guaranteed interest crediting.
Collateral Required - The value of additional collateral that the client is projected to pledge to Wintrust Life Finance if financing is elected.
IRR Financed Policy - Projected internal rate of return if the client elects to finance.
IRR Non-Financed Policy - Projected internal rate of return if the client does NOT finance.
Net Annual Outlay Financed Policy - Projected interest payable if the client elects to finance.
Net Death Benefit Financed Policy - Net death benefit of the financed policy minus projected loan balance.
Net Death Benefit Non-Financed Policy - Projected aggregate death benefit if the client does NOT finance.
Retained Capital - The difference between (i) Annual Outlay Non-Financed Policy and (ii) Net Annual Outlay Financed Policy
Retained Capital Earnings at Death - Compounded growth of all retained earnings from deal inception to the date of death at the Retained Capital Earning Rate.
Retained Earnings at Death + Death Benefit - If the client elects to finance, the amount available to the client after the loan is paid in full from death benefit proceeds.
Year - Projected year of the loan.