WriteDefaultAllocation

Description

Allocations define how money is applied to a policy.  The WriteDefaultAllocation business rule instructs the system to write/copy the default allocations, which are pre-defined funds, to the AsAllocation table for both policy and plan levels. It is customary to establish a level default allocation.  The allocation specified in this business rule is used if no other allocation instructions are given or if transaction processing dictates that all funds are deposited into a certain fund or set of funds. This business rule allows an activity to insert/update default allocation records.  It is also used to control and recognize only positive allocations and ignore the negative allocations for all the source funds.  The effective date column can be set in AsAllocation table via this business rule when the new allocation records are written/copied.  This business rule can be used with any transaction (like RebalanceStart, InitialPremium, SystematicWithdrawalStart, etc.) that performs Fund Allocations.

WriteDefaultAllocation Element/Attribute Table

Element/Tag

Definition

Attribute

Element/Attribute Value and Description

<WriteDefaultAllocation>

The opening and closing tag of the WriteDefaultAllocation business rule.

 

 

    <Allocation>

Optional/ Repeatable element;
This optional element is used to define the list of funds that should be available for allocations.
Repeated for each Future or Activity Schedule Allocation to be created for the target policy.
Refer to the Allocation Elements for details about the <Allocation> element and the available options.

 

 

       <From>

Required element;
This element is used to specify the level of allocation to which a policy level allocation should be changed.

 

Required Element value;
Activity

Activity - Indicates that the activity level allocations should be used to change the policy level allocation.
 

      <AllocationTypeCode>

Required element;
Indicates the target level allocation (Policy) where allocations should be changed.

 

 

Required Element value;
AllocationTypeCode
Indicates the Allocation Type from AsCodeAllocationType that should be updated with the activity or segment level allocations.
Ex:
01 - Plan Default
02 - Future Allocations (Policy level)
09 - Rebalancing Program
11 - Systematic Withdrawal
14 - DCA Funds

TYPE

Optional attribute;
="Policy"
This attribute is to provide the capability of storing default allocations other than 02 (Policy default).
Note:  If the <Allocation TypeCode> element value is specified as 02 then this TYPE attribute is optional. Otherwise, the TYPE attribute should be present to specify the allocation types other than Policy default allocations. 

 

XML Example

<WriteDefaultAllocation>

            <From >Activity</From>

            <AllocationTypeCode TYPE="Policy">09</AllocationTypeCode>

</WriteDefaultAllocation>

 

Schema Example

<WriteDefaultAllocation>

<Allocation>

<From  POSITIVEONLY="[Yes|No]">[Activity|Segment]</From>

<AllocationTypeCode TYPE="[Plan|Policy]" EFFECTIVEDATE="[MathVariable]">[AllocationTypeCode]

</AllocationTypeCode>

     </Allocation>     

</WriteDefaultAllocation>