public GMWBRider(Person person, Annuities annuity)
{
int growthYears = Math.Max(accumulation, person.retirementDate - DateTime.Now.Year);
if (annuity.annuityTime == AnnuityTime.Immediate)
{
growthYears = 0;
}
benifitBase = FutureValue.GetFutureValue(annuity.initialAmount, rollUp, growthYears);
annualIncome = (benifitBase * minimumPercentage) * (1 - fee);
annuity.distributionsBeforeTax = annualIncome;
annuity.gmwb = true;
annuity.yearsOfPayments = (int)Math.Round(benifitBase / annualIncome);
if (annuity.annuityTax == AnnuityTax.Qualified)
{
annuity.exclusionRatio = annuity.initialAmount / benifitBase;
}
else
{
annuity.exclusionRatio = 0;
}
}
public GLWBRider(Person person, Annuities annuity)
{
annuity.glwb = true;
if (annuity.annuityTime == AnnuityTime.Immediate)
{
growthYears = 0;
benifitBase = annuity.initialAmount;
}
else
{
growthYears = Math.Max(accumulation, person.retirementDate - DateTime.Now.Year);
benifitBase = FutureValue.GetFutureValue(annuity.initialAmount, rollUp, growthYears);
}
//Limits should be imposed on the user to not allow glwb if they are out of the range annuities allow
try
{
lifetimeWithdrawlRate = (LifeExpectancy.glwbTable[person.age + growthYears]);
}
catch (IndexOutOfRangeException exception)
{
Console.WriteLine(exception);
lifetimeWithdrawlRate = 0;
}
annualIncome = (lifetimeWithdrawlRate * benifitBase) * (1 - fee);
annuity.distributionsBeforeTax = annualIncome;
if (annuity.annuityTax == AnnuityTax.Qualified)
{
annuity.exclusionRatio = annuity.initialAmount / benifitBase;
}
else
{
annuity.exclusionRatio = 0;
}
}
//calculates how much money a variable annuity will payout for a given year
private List <double> VariableCalc(double carloRate)
{
List <double> currentYear = new List <double>();
double currentAmount = initialAmount;
lumpSumAtRetirement = FutureValue.GetFutureValue(initialAmount, carloRate, yearsToRetirement);
currentYear.Add(initialAmount);
if (annuityTime == AnnuityTime.Deferred)
{
for (int j = 0; j < yearsToRetirement; j++)
{
currentAmount += lumpSumAtRetirement / yearsToRetirement;
currentYear.Add(currentAmount);
}
}
distributionsBeforeTax = PaymentCalculator.GetPayments(currentAmount, carloRate, yearsOfPayments);
if (glwb)
{
yearsOfPayments += 100;
}
for (int j = 0; j < yearsOfPayments; j++)
{
currentAmount += currentAmount * carloRate;
if (gmwb || glwb)
{
currentAmount -= distributionsBeforeTax;
currentAmount = Math.Max((currentAmount - distributionsBeforeTax), (rider.annualIncome));
}
else
{
currentAmount -= distributionsBeforeTax;
currentAmount = Math.Max(0, currentAmount);
}
currentYear.Add(currentAmount);
}
return(currentYear);
}
public void Deferred()
{
yearsOfPayments = Math.Min((int)annuityLife, (int)retireLife);
lumpSumAtRetirement = FutureValue.GetFutureValue(initialAmount, rate, accumulationYears);
}