Model Actuarial Pricing Systems L.P. has updated the MAPS life settlement pricing model.
MAPS, New York, is making the new version, MAPS 9.1, available to all new and existing MAPS customers.
New features include premium projections, pricing based on separate discount rates for premiums and benefits, and a new internal rate of return at death report.
The revised system also includes enhanced threshold options; policy loan modeling changes; new user input premium options; and a tool that can apply whole life dividends that are greater than the premiums to benefits.
The MAPS system originally was developed by Milliman Inc., Seattle.
Milliman has reviewed, tested and approved the new update, MAPS says.