PET - Plain English Taxonomy

Label:	Income Insurance Life Policy Conversion Deposit Component Amount
TREF ID:	DE4184
Data Type:	xbrli:monetaryItemType
Period Type:	duration
Balance Type:	credit
Business Description & 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.

Usage

Form	Labels
LRF_310_1	Label: Guidance:	Policy revenue recognised as a deposit or as a change in policy liability: policy conversions - inwards 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.

Form

Labels

LRF_310_1

Label:

Guidance:

Policy revenue recognised as a deposit or as a change in policy liability: policy conversions - inwards
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.