Policy Values Premium Tracking Prototype
This enhancement provides the ability to apply, remove and track financial events at a policy level.
Prerequisites
- PolicyValues BR should exist for the Plan with Financial Entry Math.
- The following transactions configured as part of Premium Tracking. Transaction math under VDA plans are used to create entries in FinancialEntry table . Premium Balances will be calculated based on the entries made for processing the following transactions.
- Initial Premium transaction under VDA plan
- Bonus Transaction
- PartialWithdrawalWithRedemption
- FullWithdrwalWithRedemption
New Items
N/A
Changes to Existing Items
N/A
Configuration Detail
- Transaction Valuation and Policy Values: A new transaction is added under Variable Deferred Annuity called VerifyFinancialEntryValuation. The transaction is available for policy in active status.The PolicyValues business rule is invoked by processing transaction. VALUEFINANCIALENTRY attribute in <Valuation>can be used to switch ON/OFF the financialentry calculations.
- Scheduled Valuation and Policy Values: A new transaction is added at Policy Level under Variable Deferred Annuity called ScheduledValuationFinancialEntry. This transaction has attached ScheduledValuation and CopyToScheduledValutionFields Rule.The transaction is available for policy in active status.VALUEFINANCIALENTRY attribute in the rule can be used to switch ON/OFF the financialentry calculations.
- Scheduled Valuation and Policy Values at Plan Level: A new transaction is added at Plan level called FinancialEntryScheduledValuation to test enabling and disabling financial entry calculation at Plan level, the transaction has ScheduledValuation Rule attached to it.
- InquiryScreen and Policy Values: A new Inquiry Screen is created under Variable Deferred Annuity plan called PolicyValueswithFinancialEntry.
- Value Screen and Policy Values: ValueScreen rule under Variable Deferred Annuity is updated with VALUEFINANCIALENTRY attribute and configured with policy Values financial entry math to demonstrate the ability to access financial entry policy values.
- Transaction MathValuation and PolicyValues: A new transaction is added under Variable Deferred Annuity called FinancialEntryTransactionMath. The transaction is available for policy in active status.The PolicyValues business rule is invoked using parameter NAME for ValueFinancialEntry.
- ETBPS for Variable Deferred Annuity is updated to include the Policy Transaction mentioned above.