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Assignment Elements

Description

The Assignment element, located in the transaction XML, describes how values should be assigned to the policy and written to AsValuation.

Type	Apply
Allocations needed?	Yes
Parameters	BUCKET	The current bucket. Must be an integer value.
Parameters	RATELOCKDATE	Date of rate lock.
Element Value	One or more MoneyType tags that define the amount and type of money to be applied.
Note: Assignment fields can be both negative (removals) and positive (additions). Removals are not validated against fund values. Hence, additions should be more than removals. The allocation records should be positive and must match total money-in amount/units or 100%.
Used when	To add Premium
Examples	Premium
	Premium Bonus

Type	ApplyByFund
Allocations needed?	No
Parameters	BUCKET	The current bucket. Must be a integer value.
	RATELOCKDATE	Date of rate lock.
Element Value	One or more MoneyType tags that define the amount and type of money to be applied. Each MoneyType must have a FUND attribute set to a FundGUID.
Note: Assignment fields can be both negative (removals) and positive (additions). Removals are not validated against fund values. Hence, additions should be more than removals. The allocation records should be positive and must match total money-in amount/units or 100%. This allows the apply to be fund specific.
Used when	To direct deposits to specific funds.
Examples	LoanRepayment

Type	RemoveByFund
Allocations needed?	No
Parameters	None
Element Value	One or more MoneyType tags that define the amount and type of money to be applied. Each MoneyType must have a FUND attribute set to a FundGUID value.
Note: Assignment values must be positive.
Used when	To direct removals from specific funds.
Examples	LoanRepayment

Type	GrossWithdrawal
Allocations needed?	Yes
Parameters	SURRENDERCHARGE	Yes, No, or a field that holds Yes or No. Whether or not a surrender charge is applied.
	SURRENDERMONEYTYPE	The type of money for the surrender charge.
	MVACHARGE	Yes, No, or a field that holds Yes or No. Indicates whether there is an MVA Charge.
	MVAMONEYTYPE	The MVA money type.
	REDEMPTIONFEE	Yes or No. Indicates whether there is a Redemption Fee.
	REDEMPTIONMONEYTYPE	The Redemption Fee money type.
	BUCKET	The bucket for the EIFund. Must be an integer value.
Element Value	One or more MoneyType tags that define the amount and type of money to be applied. The tags can have an attribute named NETFIELD.
Note: Assignment fields must be negative (removal). The allocation records should be positive and must match total money-out amount/units or 100%. This is similar to PartialWithdrawal, but the charges are applied within the removal amount.
Used when	Unscheduled money-out
Examples	Withdrawal
	Systematic Withdrawal

Type	GrossFullWithdrawal
Allocations needed?	No
Parameters	EXCLUDEFUNDTYPES	Comma-separated list of fund types. Allows funds to be excluded from the allocations that are moving money into a fund, based on the type of fund.
	SURRENDERCHARGE	Yes, No, or a field that holds Yes or No. Whether or not a surrender charge is applied.
	SURRENDERMONEYTYPE	The type of money for the surrender charge.
	MVACHARGE	Yes, No, or a field that holds Yes or No. Indicates whether there is an MVA Charge.
	MVAMONEYTYPE	The MVA money type.
	REDEMPTIONFEE	Yes or No. Indicates whether there is a Redemption Fee.
	REDEMPTIONMONEYTYPE	The Redemption Fee money type.
	BUCKET	The bucket for the EIFund. Must be an integer value.
Element Value	One or more MoneyType tags that define the amount and type of money to be applied. The tags can have an attribute named NETFIELD.
Note: Assignment fields must be negative (removals). Allocation records are created by the system with PercentInAllocation set to the ratio of the fund value to the policy cash value %. This is similar to PartialWithdrawal, but the charges are applied within the removal amount.
Used when	Total Money-out
Examples	FreeLook

Type	GrossFullWithdrawalByUnitPercents
Allocations needed?	No
Parameters	EXCLUDEFUNDTYPES
Element Value	MoneyType element holds a field name that represents a percent. This removal percent is applied to all policy funds.
Note: This assignment type does not have attributes that further define functionality. This assignment type reduces all funds' units by the percent defined by MoneyType.
Used when
Examples

Type	GrossFullWithdrawalWithAllocations
Allocations needed?	Yes
Parameters	SURRENDERCHARGE	Yes, No or a field that holds 'Yes' or 'No'. Determines whether or not a surrender charge is applied.
	SURRENDERMONEYTYPE	The type of money for the surrender charge.
	MVACHARGE	Yes, No or a field that holds 'Yes' or 'No'. Indicates whether there is an MVA Charge.
	MVAMONEYTYPE	The MVA money type.
	REDEMPTIONFEE	Yes or No. Indicates whether there is a redemption fee.
	REDEMPTIONMONEYTYPE	The redemption fee money type.
	BUCKET	The bucket for the EIFund. Must be an integer value.
Element Value	Assignment fields must be negative (removals). The allocation records should be positive and must match the total money-out amount/units or 100%. This is similar to PartialWithdrawal, but the charges are applied within the removal amount.
Note: Assignment fields must be negative (removals). Allocations on the activity at the time of assignment are used to reduce the contract value first. Any remaining amount that must be assigned is distributed amoung the remaining funds on the contract at a ratio of the fund value to the total remaining fund value %. This is similar to GrossFullWithdrawal.
Used when	Total Money-out
Examples	FreeLook

Type	BuyBackNegativeUnits
Allocations needed?	No
Element Value	MoneyType element. Checks for a negative cashvalue on all funds and writes out a positive valuation record to bring cash value back to zero.
Note: This assignment type does not have attributes that further define functionality. The Money type child node will not have a NAME attribute.
Used when
Examples

Type	Transfer
Allocations needed?	Yes
Parameters	PRORATEREMOVALS	Prorate the amount to remove.
	SURRENDERCHARGE	Yes, No, or a field that holds Yes or No. Whether or not a surrender charge is applied.
	SURRENDERMONEYTYPE	The type of money for the surrender charge.
	MVACHARGE	Yes, No, or a field that holds Yes or No. Indicates whether there is an MVA Charge.
	MVAMONEYTYPE	The MVA money type.
	REDEMPTIONFEE	Yes or No. Indicates whether there is a Redemption Fee.
	REDEMPTIONMONEYTYPE	The Redemption Fee money type.
	BUCKET	The bucket for the EIFund. Must be an integer value.
Element Value	Zero or more MoneyType tags that define the amount and type of money to be applied.
Note: Assignment fields are not needed. Allocation records are needed in both negative and positive.
Used when	Money is moved from a set of one or more funds to another.
Examples	Transfer
	RebalanceAssets

Type	Switch
Allocations needed?	Yes
Parameters	SWITCHFEERATE	Percentage (between 0.00 and 1.00) to be charged to the redemption funds in the transaction.
	SWITCHFEEAMOUNT	Flat amount in base currency to be charged to the redemption funds in the transaction.
	SWITCHFEEMONEYTYPE	The Switch Fee MoneyType.
	IF	Conditional expression that, if true, will allow the assignment to execute.
Element Value	none
Note: This assignment does not support the MoneyType element. SWITCHFEERATE and SWITCHFEEAMOUNT cannot be used together, only one is allowed. SWITCHFEERATE will take precedence. Requires MathStatement element with FindNextExchangeDatePricing function.
Used when	To transfer money to or from unit linked funds using guaranteed price dates.
Examples	Switch, AutoRebalance, CostAveraging etc.

Type	Withdrawal
Allocations needed?	Yes
Parameters	MONEYTYPE	Money type to assign to the principal withdrawal amount.
	POLICYFREEAMOUNT	Policy Amount in base currency that is exempt from the SurrenderChargeRate.
	SURRENDERCHARGERATE	Percentage (between 0.00 and 1.00) to be charged to the redemption funds in the transaction.
	SURRENDERCHARGEAMOUNT	Flat amount in base currency to be charged to the redemption funds in the transaction.
	SURRENDERCHARGEMONEYTYPE	The SurrenderCharge MoneyType.
	REMOVALMETHOD	[Gross, Net] literal values only. Indicates if the requested amount or percent is gross or net of the surrender charge. Default is Gross.
	IF	Conditional expression that, if true, will allow the assignment to execute.
Element Value	none
Note: This assignment does not support the MoneyType element. SURRENDERCHARGERATE cannot be used together with SURRENDERCHARGEAMOUNT and POLICYFREEAMOUNT, only one is allowed. SURRENDERCHARGERATE will take precedence and the other parameters will be ignored. Requires MathStatement element with FindNextExchangeDatePricing function.
Used when	To remove money from unit linked funds using guaranteed price dates.
Examples	Withdrawal

XML Example

</Assignment>

</Assignment>

</Assignment>

</Assignment>

<Assignment TYPE="Switch" SWITCHFEERATE="SwitchFeeRate" SWITCHFEEMONEYTYPE="SwtitchFeeMoneyTypeCode" IF="UseFlatFeeAmount = 'UNCHECKED'"></Assignment>