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Issue 36: Queries on premium calculation
1 person starred this issue and may be notified of changes. Back to list
Status:  Fixed
Owner:  ui.devt...@gmail.com
Closed:  May 2009


 
Project Member Reported by saji.koy...@gmail.com, May 7, 2009
Queries: 
1. Monthly value and annually value are the same, though monthly one says 
it include APR14.9%. How can both be same?
2. For the excess value 100, 2500, 5000 all have same premium. It looks 
bit strange : generally with higher excess, there will be some minor 
reduction in Premium.

Excess : Premium 
250 : £354.46
500 : £289.87
1000 : 283.50
5000 = 283.50 
2500 : £283.50

May 8, 2009
Project Member #1 ui.devt...@gmail.com
Total Premium is sum of Building , Contents , Valuable and Red24 sub section as 
applicable based on the cover type + Tax of 5% default .

Direct Debit Charge is 6% for all(this change has been made recently).
This when applied to the Total Premium and added gives the Annualized Premium.

Annualized Premium when divided by 12 gives the MonthlyAmountByDD.
APRPercentage doesnt get applied really. We can just double check with business but 
this is never mentioned anywhere in the rating sheets.

We are checking the excess issue as updated before.
Labels: -saji Anand
May 11, 2009
Project Member #2 ui.devt...@gmail.com
The excess issue was fixed. Can you please retest and update? Thanks
Status: Fixed

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