562 Rate or Value Type Code
562 Rate or Value Type Code
Code identifying method used to determine the type of rate, value, or percent details
Type
ID
Length
Max 2 / Min 1
Codes
<> 1
Base Coverage
<> 2
Coverage for Rider
<> 3
Coverage in Units
<> 4
Retention Per Life
<> 5
Retention Per Policy
<> 6
Total Reinsurance Amount
<> 7
Face Amount
<> 8
Coverage Amount
<> 9
Specified Amount
<> A
Daily Basis Rate
<> AB
Average Basic Rate
<> AC
Actual
<> AD
Advance
<> AE
Average Effective Rate
<> AR
Age Reduced Rate
<> B
Bailout
<> BL
Blended
<> BO
Bonus
<> CB
Chargeback
<> CR
Conversion Rate
<> D
Declared
<> DR
Direct Rate
<> DT
Deferred Trail Rate
<> E
Earned
<> ES
Estimated
<> F
Fixed
<> G
Guaranteed
<> I
Indexed
<> IN
Initial
<> O
Original
<> OI
Overhead or Indirect Rate
<> OT
Other
<> P
Paid
<> PA
Participation
<> PO
Portfolio Rate
<> RF
Renewal First Year Rate
<> RR
Renewal Rate
<> RS
Renewal Subsequent Year Rate
<> SA
Special
<> SP
Split
<> SR
Standard Rate
<> T
Tiered
<> TR
Trail Rate
<> UA
Unit or Lot Average
<> UT
Unit Total
<> VA
Variable
<> W
Withheld