Annual Statement
Your annual statement is the document your carrier sends each year (typically around your policy anniversary date) showing the current status of your policy. It is the primary source of data you enter into Policy Stack.
Key figures found on an annual statement:
| Field | Description | |-------|-------------| | Cash value | Total accumulated cash value as of the statement date | | Death benefit | Current total death benefit including any PUA additions | | Loan balance | Outstanding policy loan balance as of the statement date | | Annual premium paid | Base premium and PUA contributions made in the past year | | Dividend paid | Dividend declared for the year and how it was applied |
In Policy Stack, you record these figures as a Snapshot for each policy once you receive your annual statement. Keeping snapshots current ensures your dashboard and calculations reflect accurate data.
Record your snapshot as soon as you receive your annual statement — within the first week. Stale data leads to inaccurate system position and LTV calculations.
Related terms: Snapshot, Cash Value, Loan Balance, Carrier