Commonly used functions for Coverage Amount and Premium Calculation Functions
Comparison and Logic Functions
Eq(Text1,Text2): This comparison function looks at the value in Text 1 and Text 2 to see if they match. If they do, you will receive a return value of True. If they do not match, you will get a return value of False.
Example: Eq(1,3) = False
Max(num1,num2): This comparison function is looking for the maximum of the values placed in the parenthesis. The return value will be the number that is the higher.
Example: Max(EmplSalary,100000)= return the salary amount from base comp if above $100,000 or $100,000 if base comp is under.
Min(num1,num2): This comparison function is looking for the minimum of the values placed in the parenthesis. The return value will be the number that is the lowest.
Example: MIN(EmplSalary,100000)= return the salary amount from base comp if below $100,000 or $100,000 if base comp is over.
Numeric Functions
Add(number,number,number,…): This function will add the numbers within the parenthesis and the output will be to total sum of those numbers.
Example: Add(“1”, “2”, “3”)=6
Ceiling(val,prec): This function will take the value inside the parenthesis and round it up the number in the prec location.
Example: Ceiling(EmplSal,1000)= return the employee’s annual base compensation rounded up to the next $1,000
Divide(number,number): This function will divide the number in the first location within the parenthesis by the number in the second location in the parenthesis.
Example: Divide(“50”,”2”)=25
Floor(val,prec): This function will take the value in the parenthesis and round it down the number in the prec location.
Example: Floor(EmplSal,1000)= return the employee’s annual base compensation rounded down to the next $1,000
Mround(val,prec): This function will take the value in the parenthesis and round it to the nearest value listed as prec location.
Example: Mround(EmplSal,1000)= return the employee’s annual base compensation rounded to the nearest $1,000 based on basic rounding rules.