PET - Plain English Taxonomy

Label: Assets Insurance Contractual Regular Contributions Movements Other Amount
TREF ID: DE5789
Data Type: xbrli:monetaryItemType
Period Type: duration
Balance Type: debit
Business Description & Guidance:
Report other movements in Gross Contractual Regular Contributions over the relevant period. Include the increase/decrease in contractual regular contributions following transfers of business from one statutory fund to another or any other movements that are not:- due to new policies sold during the period, including CPI increases;- decreases due to claims or maturities during the period;- decreases due to lapses or surrenders of policies during the period, i.e. the cessation of regular premiums prior to the completion of the policy's term.Contractual Regular Contributions are the total gross premiums for the current relevant period that are accepted through direct debit, have a specific contractual requirement for future on-going premiums, have an expectation of renewal each year (e.g. Yearly Renewable term products) or generally cause a policy to discontinue on cessation of future payment.Decreases due to claims refer to the reduction in contractual regular contributions following a claim arising from the occurrence of an insured event. Note that it is only included when an insurance claim causes alteration or cessation of the premium, e.g. premiums paid on disability income policies will sometimes remain unaffected following a claim, depending on the policy terms and conditions.Decreases due to maturities refer to the cessation of contractual regular contributions due to the maturity of a policy, i.e. following the completion of a policy's term. This would occur when a member retires and is paid his/her superannuation benefit, a policy owner reaches a defined age on an Endowment policy or the termination of a savings plan on or after the contractual period 

Usage
Form Labels
Label:
Guidance:
Other movements in gross contractual regular contributions over the year
Report other movements in gross contractual regular contributions over the reporting period. Include the increase/decrease in contractual regular contributions following transfers of business from one statutory fund to another or any other movements not recorded elsewhere. Contractual Regular Contributions are the total gross premiums for the current reporting period that are accepted through direct debit, have a specific contractual requirement for future on-going premiums, have an expectation of renewal each year (e.g. Yearly Renewable term products) or generally cause a policy to discontinue on cessation of future payment.