Contract Design
Factors [AMPLE DIRECT FACTORS]
Administration Systems
Marketability
Profitability
Level and form of benefits
Early Leavers Benefits [Discontinuance]
Discretionary Benefits
Interest and needs of customer
Risk Appetite
Expenses vs Charges
Competition
T&Cs
Financing Requirements
Accounting Implication
Consistency with other products
Timing
Options and guarantees
Regulatory requirements
Subsidies
Parties involved [ACC ALFA] 
Client
Client's customers
Actuaries
Lawyers
Accountants
Financial Backers
Adminstrators
Initial costing
Determine provisions
Impact of changes to benefit design
Needs affected by
Expertise available
Chosen Market
Capital available
Needs affected by
Benefits needed
Capacity to pay
Risks to be covered
Attitude to risk
Draft contracts
Ensure there aren't taking on more risk than intended
Want reports demonstrating good stewardship
Administer financial products
Increased cost with complexity
Provider accounts correctly for income and outgo
Options and guarantees
Types
Payment of premium
Benefit
Use of contract proceeds
Cost
Need to be charged for
Charge in premiums ideal
Charge through a reduction of benefits [improves short terms sales but clients won't be happy in the long term]
Portion of arising surplus shared
Benefits offered to people discontinuing their contracts
Offer attractive benefits with no loopholes
Commercial Considerations
Financing Considerations
Profitability
Marketability
Competitveness
Statutory Requirements
Claims Experience
Expenses and expense inflation
Investment Returns
Withdrawal experience
New business mix
Frequency
Severity
Inflation
Options and Guarantees
Capital Requirements
Contract Design
Maximums and Minimums on Premiums
Sales method
Level of underwriting allowed
New business strain
Method
Premium received in the first year may be less than the sum of the initial expenses, commission and increase in provisions and initial solvency requirement
Pay-as-you-go
Fund all benefits in advance
Regular payments building up fund