SplitPercentage Assignments Prototype

OIPAnow supports two new assignment types: SplitPercentageRemoval and SplitPercentageApply. SplitPercentageRemoval removes a specified percentage from each undepleted deposit of each underlying fund associated with a policy, while SplitPercentageApply applies the removed money to a different policy on either the same plan or a different plan.

Prototype Prerequisites

Prototype Explanation

The following business rules and transactions were configured in the Prototype Company to demonstrate this new functionality.

Transactions

Note   Note: PolicySplit does not showcase any of the new functionality implemented by this enhancement. Instead, it serves as a mechanism for setting up different assignment scenarios.

Business Rules

View Prototype in OIPA

  1. Log in to OIPA using the Prototype Company user ID and password.
  2. Open a policy or create a shell policy belonging to the Dynamic Prototype Plan.
  3. Add the PolicySplit activity and enter the required information.
  4. Process PolicySplit. Note that the TransferAssetsOut activity is spawned.
  5. Process TransferAssetsOut.
  6. Navigate to the new policy created by PolicySplit. Note that the TransferAssetsIn activity was spawned.
  7. Process TransferAssetsIn.
  8. View the allocation information for both the original policy and the policy created by PolicySplit. Note that the designated percentage of each fund was moved from the original policy to the new policy.
     
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