What is the AXIS Group Annuity Module used for?
It models group annuity and deposit administration plans, handling both group-level and individual certificate-level calculations.
What are group annuity plans?
Contracts issued to employers or plan sponsors to provide retirement benefits to a group of participants, often under a single master policy.
What is a deposit administration plan?
A plan where the employer makes deposits into an account, and benefits are paid based on accumulated deposits and credited interest, rather than fixed annuity payments.
How does AXIS support group-level modeling?
AXIS models the aggregate fund or reserve for the entire group, tracking total deposits, interest credits, and benefits paid.
How does AXIS support certificate-level modeling?
AXIS can project individual member (certificate) balances, benefits, and decrements under the master policy.
Why is the AXIS Group Annuity Module useful for actuaries?
It provides tools to evaluate group pension funding, experience studies, and liability projections at both the group and member levels.
What makes the AXIS Group Annuity Module comprehensive?
It can model both group and certificate levels simultaneously, with flexible features for deposits, credited rates, and benefit projections.
