Oracle® Insurance Rules Palette
The OIPA system performs standard calculations when valuing the following types of funds.
Fixed Funds: Interest is calculated and added to the current amount invested in the fund to determine its value.
Variable Funds: The current total number of units is multiplied by the current unit price to establish a fund’s value.
Non-Invest Funds: User may view the amount of a fund, but the value is not included in the policy’s worth. These are treated as fixed funds by OIPA.
Unit Linked Funds: The current total number of units is multiplied by the current unit price to establish a fund’s value.
These types of funds are listed in AsCodeFundTypes and should never be changed as the system will use these specific typecodes for valuation.
Fund Type |
TypeCode |
---|---|
Fixed Funds |
01 |
Variable Funds |
02 |
Non-Invest Funds |
05 |
Unit Linked Variable Funds |
10 |
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