562 Rate or Value Type Code
Code identifying method used to determine the type of rate, value, or percent details
- Type
- Identifier (ID)
- Length
- Min 1 / Max 2
- Codes
| Code | Description |
|---|
| 1 | Base Coverage |
| 2 | Coverage for Rider |
| 3 | Coverage in Units |
| 4 | Retention Per Life |
| 5 | Retention Per Policy |
| 6 | Total Reinsurance Amount |
| 7 | Face Amount |
| 8 | Coverage Amount |
| 9 | Specified Amount |
| AB | Average Basic Rate |
| AC | Actual |
| AD | Advance |
| AE | Average Effective Rate |
| AR | Age Reduced Rate |
| BL | Blended |
| BO | Bonus |
| CB | Chargeback |
| CR | Conversion Rate |
| D | Declared |
| DR | Direct Rate |
| DT | Deferred Trail Rate |
| ES | Estimated |
| F | Fixed |
| G | Guaranteed |
| IN | Initial |
| O | Original |
| OI | Overhead or Indirect Rate |
| OT | Other |
| PA | Participation |
| PO | Portfolio Rate |
| RF | Renewal First Year Rate |
| RR | Renewal Rate |
| RS | Renewal Subsequent Year Rate |
| SA | Special |
| SP | Split |
| SR | Standard Rate |
| TR | Trail Rate |
| UA | Unit or Lot Average |
| UT | Unit Total |
| VA | Variable |