Insurance & Annuity Master Calculator

This is four separate actuarial calculators combined behind one Calculation Type selector: Insurance Premium, Annuity Present Value, Pension Benefit, and Claims Analysis. Switching modes changes which inputs are actually used -- entering values into the Annuity or Pension fields has zero effect on the Insurance Premium results, and vice versa, because each mode runs entirely separate math using only its own section's inputs. The default Insurance Premium mode estimates cost from a simplified mortality table (a base per-$1,000 rate that climbs with age) adjusted by three multipliers -- Health Rating, Smoking Status, and Gender -- then loaded up with standard insurance expense, profit, and contingency margins (25%, 10%, and 5% respectively) to arrive at a gross premium. One structural quirk worth knowing: Term Length has no effect on the Annual or Monthly Premium figures in this mode at all -- it only multiplies through to Total Cost Over Term, since the underlying premium calculation levels to the same annual rate regardless of how many years the term runs.

Annuity Present Value mode applies standard time-value-of-money annuity formulas, distinguishing ordinary annuities (payments at period end) from annuities due (payments at period start), and can optionally show an inflation-adjusted real present value. Pension Benefit mode projects a final average salary forward using a compounding growth rate and applies a standard "percent per year times years of service" pension formula. Every mode here uses simplified, illustrative actuarial assumptions rather than the full mortality tables, medical underwriting, and plan-specific rules a real insurer, annuity provider, or pension administrator would apply -- treat every figure as a rough planning estimate, not a quote or benefit statement.