The APB calculation is an important factor to consider when comparing and evaluating different insurance products and options. It helps to measure and compare the actual and potential premiums paid by the policyholders over time, as well as to determine the compensation and incentives for the agents and brokers who sell them. The APB rider is one of the common features that can affect the APB calculation, as it provides flexibility and protection for changing needs and circumstances, but also has a cost and impact on future premiums. For instance, if a single premium policy has a lower risk than a regular premium policy, the insurance company may lower its premiums or offer more benefits. When you think of an ape, you might picture a large, tailless primate swinging through the trees.
APE can also be used to calculate the new business margin, which is the ratio of the present value of future profits to the APE. One of the challenges of measuring the sales performance of life insurance companies is that they offer different types of policies with different payment methods. Some policies require a single lump-sum payment upfront, while others require regular payments over a period of time. To compare the sales of these policies, insurance companies use a common metric called the annual immutable x token premium equivalent (APE). The APE is a way of converting the single premium policies into an equivalent annual amount, so that they can be added to the regular premium policies.
Indeed, this species of gibbon is thought to have one of the most beautiful vocalizations, even though they generally don’t sign in duets like some other gibbons. These gibbons, as their name suggests, have a mostly silvery to blueish-grey colored fur. They maintain relatively small territories and they tend to live in pairs with only one young at a time. Interestingly, the lar gibbon can have a wide range of different fur colors, from nearly white to almost completely black.
Scientists studying orangutans in captivity have shown them capable of using sign language, solving puzzles, and recognizing symbols. A group of apes may be referred to as a troop of apes or a shrewdness of apes. Apes are highly intelligent and display a range of cognitive abilities including problem-solving, tool use, planning for the future, and some have even been taught sign language. Apes display significant parental care, with infants being dependent on their mothers for several years.
Factors to Consider in APB Calculation
On the other hand, the lesser apes are all found in the family Hylobatidae and they are generally called gibbons. There are approximately four genera and sixteen species of gibbon, all of which are highly arboreal and are smaller than the great apes. The great apes are larger and much more social than the lesser apes, though the classification of these species is actually based on genetic analysis.
- Whether you want to play, convert, or edit APE music format files, this tool ensures that quality is never compromised, making it a go-to choice for audiophiles and casual listeners alike.
- The authors developed a procedure for calculating the APB that accounts for all the factors mentioned above.
- APE is useful for comparing the sales performance and growth of different life insurance companies, as well as for estimating the commission income for agents and brokers.
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- Their general physique gives them a more upright posture than other primates.
What is ANNUAL PREMIUM EQUIVALENT? What does ANNUAL PREMIUM EQUIVALENT mean?
There are hundreds of species of primates, each with their own unique characteristics. Many species of primates, such as the lar gibbon pictured above, are highly skilled at climbing trees. Most Old World monkeys, including macaques and baboons, have opposable thumbs, which they use for handling food. Lemurs, lorises and some New World monkeys, like capuchins, have “pseudo” — fake — opposable thumbs. This means they can partially move toward the other fingers, but not with the same full range of motion or grip strength as true opposable thumbs.
1 Eastern Gorilla
The scientific name Hominoidea refers to apes (chimpanzees, gorillas, orangutans, and gibbons) as well as humans (that is, it ignores the fact that humans prefer not to label ourselves as apes). Ape species are divided into the lesser apes, or gibbons, and the great apes, which include chimpanzees, bonobos, gorillas, orangutans and humans. Apes are highly intelligent and known for their advanced problem-solving and communication skills. The gibbons and the orangutan are arboreal, while the gorilla, chimpanzee, and bonobo spend some or much of their time on the ground. African apes (gorilla, chimpanzee, and bonobo) travel on the ground by quadrupedal knuckle walking, in which the long fingers of the forelimbs are folded under to provide support for the body.
Limitations of Performance Metrics
- The APE is widely used in the UK and internationally as a standard sales measure for life insurance.
- The genus for the hoolock gibbons was changed from Bunopithecus to Hoolock (Mootnick and Groves 2005).
- As an audio aficionado, you might have encountered the term when searching for an efficient APE file player.
- However, other factors such as expenses, claims, and risk should also be considered when making comparisons.
While the species has been known to scientists since the late nineteenth century, it wasn’t actually considered to be a separate species from the eastern black crested gibbon until fairly recently. However, as of the early 2000s, it’s believed that there are less than 40 individuals of this species left in the wild, meaning that the species’ chances of survival are exceptionally small due to ongoing habitat loss. We do know, however, that these gibbons tend to look a lot like the more common yellow-cheeked gibbon, though they are more likely to have golden-orange fur tufts on their cheeks. Other than that, more research is needed to fully understand this fascinating species.
Step-by-Step Guide to Calculate APB
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Orangutans are the exception to the primate social norm, they lead solitary lives. The 1960s saw the application of techniques from molecular biology to primate taxonomy. Goodman used his 1963 immunological study of serum proteins to propose a division of the hominoids into three families, with the non-human great apes in Pongidae how to create a mobile banking app and succeed in the fintech sector and the lesser apes (gibbons) in Hylobatidae (Goodman 1963). The trichotomy of hominoid families, however, prompted scientists to ask which family speciated first from the common hominoid ancestor. Some researchers place gorillas and chimpanzees (and the related bonobos) into the Panidae family, while orangutans remain in the Pongidae family, and humans in the Hominidae.
This allows for a fair comparison between single and regular premium policies. The reason for multiplying single premiums by 0.1 is to annualize them over a 10-year period, which is the assumed average duration of a life insurance policy. This way, you can compare single premiums and regular premiums on an equal basis. Insurance companies commonly take 100% of regular premiums and 10% of single premiums to calculate APE, under the assumption of an average life insurance policy lasting 10 years. The reason for using 10% of the single premiums is that it assumes an average life insurance policy lasts for 10 years.
They grow to reach heights of three to five feet, and weigh up to 120 to 200 pounds. They are predominantly black, sometimes with gray on their back after 20 years of age. The yellow-cheeked gibbon is listed as endangered, though there is a population of about 1,000 individuals that lives in the Keo Seima Wildlife Sanctuary in Cambodia. There are also a number of breeding, conservation, and rehabilitation programs for this gibbon to help save the species from extinction. Once considered to be extinct in the wild, the eastern black crested gibbon (Nomascus nasutus) is one of the world’s rarest primates. Indeed, there wasn’t a single confirmed sighting of the species from about the 1960s to the early 2000s, until a group of biologists spotted them in northern Vietnam.
A common industry approach involves considering 100% of regular premiums and 10% of single premiums. This assumes an average life insurance policy duration of 10 years, annualizing the 10% of single premiums over this period. The APB calculation can capture the differences in profitability and riskiness among different types of insurance policies better than the APE calculation. For example, a policy that has a high single premium and a low regular premium may have a high APE but a low APB, as most of its revenue is received upfront and has a low present value. Conversely, a policy that has a low single premium and a high regular premium may have a low APE but a high APB, as most of its revenue is received over time and has a high present value. The 0.1 factor is used to annualize single premiums over a 10-year period, which is the assumed average duration of a life insurance policy.
Mothers carry, nurse, and protect their young, teaching them the necessary skills for survival. In some species, like gorillas, older siblings, especially females, also participate in caring for the younger ones. For instance, they use their hands to gather food and use tools to acquire hard-to-reach foods.
Apes are found in the tropical forests of western and central Africa and South Asia. They are distinguished from monkeys by having no tail, having an appendix, and having a more complex brain. Apes typically move about by swinging or knuckle-walking, though they are capable of standing erect and occasionally walk on two feet.
