Switch

Switch is an ad hoc client request to move money between funds on a policy. The request can be in the form of a percentage or a monetary value or number of units. The process will allow the system to perform multiple movements into and out of funds on a single activity. The process will allow for a switch fee but also a number of free switches per policy year. Fund Allocations can be specified as Percentage, Amount, Units or a Mixed method.

Note: The number of free switches allowed is controlled by a plan field.

Once the details have been entered, click OK. Process the activity by clicking the lightning bolt icon next to the activity on the Activity screen.

Switch activity

Add Activity Window with Switch Selected

Effective Date

The date the switch becomes effective.

Number of Switches this Year

The number of switches that occured on the policy to date.

Number of Free Switches Allowed

The number of switches allowed without a switch fee.

Waive Switch Fee

Check this box if no switch fee should be applied to the policy.

Use Flat Fee Amount

Check this box if a flat fee amount should be applied to the policy.