PET - Plain English Taxonomy

Attribute:	PL13702
Concept:	Income Insurance Life Premium Deposit Component Amount
Label:	Contractual direct premiums
Concept Guidance:	This is the value, as at the relevant date, for the deposit components of regular and single premiums received or receivable for life investment and life insurance investment account business i.e. exclude any revenue components. Include the deposit component of premiums in respect of deferred or immediate annuities that are life investment business.Life insurance policies are contracts that will pay a specified sum to beneficiaries upon the death of the insured.An annuity is a periodic payment of a fixed or variable amount arising out of a contract obligation. Immediate annuities are those purchased with a single payment, where the income stream commences immediately. Deferred annuities are those where the income stream commences at some time in the future.

Dimensions

Dimension	Member	Description
ClassOfBusinessDimension	(ReinsuranceBusiness)	This dimension is used to categorise information according to business activity. Report where the class of business relates to reinsurance contracts.Reinsurance contracts are insurance contracts where the policyholder is an insurer or reinsurer. Policyholder means a party that has a right to compensation under an insurance contract if an insured event occurs.
JurisdictionDimension	(Australian)	This dimension is used to categorise reported information according to the jurisdictional reach to which that information relates. Data reported is within the jurisdictional reach of Australia.
ReinsuranceExpenseValueTypeDimension	(Gross)	This dimension identifies the valuation scenario, in relation to reinsurance expenses, under which the reported value was calculated. The information reported is in relation to the value that has been calculated before allowing for any adjustment to the value of the asset or liability in accordance with treatment permitted under accounting standards or prudential standards.