PET - Plain English Taxonomy

Attribute:	PL13705
Concept:	Income Insurance Life Policy Conversion Deposit Component Amount
Label:	Policy revenue recognised as a deposit or as a change in policy liability: policy conversions - inwards
Concept Guidance:	Report the value of the deposit (investment component) elements of Conversions into this statutory fund.Life insurance policies are contracts (policies) that will pay a specified sum to beneficiaries upon the death of the insured.
Form-Specifc Guidance:	Premium and claim elements of policy conversions are not expected to apply for life investment contracts, due to section 5 of AASB 138 Life Insurance Contracts (AASB 138). In those cases, only deposit components are expected to apply.

Dimensions

Dimension	Member	Description
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.