AssignmentProcessing

The AssignmentProcessing Business Rule allows benefit split and liquidity processing to occur after assignment processing has occurred, in relation to the movement of money at the underlying valuation level. The resulting values of assignment processing on valuation can then be scaled to the appropriate level and applied at the benefit or liquidity level.

Note: While this is an attached Business Rule, it is NOT included in the Transaction Business Rule Packet.

AssignmentProcessing Elements/Attributes
Element/Tag Attribute Definition Element/Attribute Value and Description

<AssignmentProcessing>

 

The opening and closing tag of the AssignmentProcessing Business Rule.

 

<Assignment>

 

 

 

TYPE

Required:

Specifies the assignment type.

Values that allow BUCKET attributes:

Apply

ApplyByFund

RemoveByFund

Transfer

GrossFullWithdrawal

Withdrawal

Switch

BUCKET

Optional   

Specifies the bucket number that money will be assigned to or removed from.

MathVariable

BUCKETEFFECTIVEDATE

Optional

Specifies the effective date money is to be assigned to a bucket for the following assignment types:

Apply

ApplyByFund

Transfer (To Side)

Switch (To Side)

MathVariable (DataType = DATE)

Default is ActivityEffectiveDate.

 

<Collapse>

 

 

IF

  Expression evaluating to true of false.

Conditionally process the assignment if true.

Value: Yes|No

Default: No (funds will not be collapsed).

TYPE

Defines whether to process a transfer or removal from a fund.

TYPE=Withdrawal
Create a removal by directed amount or percentage.

TYPE=Switch
Create a fund to fund transfer based on policy or activity allocations.

MONEYTYPE

MoneyType for the net removal amount (if TYPE=Withdrawal).

 

 

POLICYFREEAMOUNT

Amount exempt from surrender rate charges. Ignored if SurrenderChargeAmount is present (if TYPE=Withdrawal).

 

SURRENDERCHARGEAMOUNT

Flat amount to withhold as a surrender charge (if TYPE=Withdrawal).

 

 

SURRENDERCHARGERATE

Surrender Charge Percentage rate. (if TYPE=Withdrawal). Decimal value = 0 to 1.

 

SURRENDERCHARGEMONEYTYPE

MoneyType for Surrrender Charge amount (if TYPE=Withdrawal).

 

 

REMOVALMETHOD

Flat currency amount to use as a SurrenderCharge. (if TYPE=Withdrawal). Default is "Gross".

 

SWITCHFEERATE

Optional:

Switch Fee Percentage rate. (if TYPE=Switch).

Decimal value = 0 to 1.

Not valid with SwitchFeeAmount.

 

SWITCHFEEAMOUNT

Optional:

Flat amount to withhold as a Switch Fee. (if TYPE=Switch).

Not valid with SwitchFeeRate.

 

SWITCHFEEMONEYTYPE

Required only if a fee or rate amount is present.

MoneyType for Switch Fee amount (if TYPE=Switch).

 

 

<Post>

 

 

Defines the opening and closing <Post> tag.

This element contains logic definitions for processing post-accumulation-assignment.

<BenefitSplit>

 

 

PROCESS

 

Indicates that a benefit split should receive an adjustment.

 

Yes: Adjustment will occur to the benefit split and update the benefit split record.
No: Adjustment will not occur to the benefit split.
String:Mathvariable

If this attribute is not present the default is "No."

USEPERCENT




Defines whether the PercentResult tag value should be used in interpreting the rule.

 

Yes: PercentResult tag value will be used in interpreting the rule.
No: PercentResult tag value will not be used. String: Math Variable containing Yes or No.

If this attribute is not present the default is "No".

This attribute is applicable when <PercentResult> element is present.

REDEMPTIONMONEYTYPE

The type of money for the redemption fee.

Code:

As defined in AsCode=>AsCodeMoneyType.

<SyncOriginalUnits>

 

 

Determines whether the original benefit split records should also be updated.

 

Yes: Original benefit split records will be updated.
No: Original benefit split records will not be updated.

<AIR>

 

 

This element defines which child funds to use when changing the AsBenefitSplit records.

String:   

MathVariable containing a segment field that will have Benchmark rate.

During processing the money movement (i.e., NUVs) is based on the child fund records associated with the parent fund.

<WriteBenefitChange>

 

Describes whether to write to the Benefit Split Change table.

Yes: Record will be written to the AsBenefitSplitChange table.
No: Record will not be written to the AsBenefitSplitChange table.

<SegmentGUID>

 

The SegmentGUID that is used.

String:    

MathVariable containing the SegmentGUID.

<RecalculateFees>

 

 

Defines whether or not to recalculate the fees associated with the money movement — necessary for certain actuarial situations.

Yes: Recalculate the fees.
No: Do not recalculate the fees.

If this element is not present the default is "No."

Note: This element is applicable when the product has redemption fees, which is when REDEMPTIONMONEYTYPE attribute is present in <BenefitSplit> element.

<PercentResult>

 

 

Percent of benefit that should be left after the change.

String: MathVariable containing a whole number from 1 to 100.

This element is used when the USEPERCENT attribute is defined in the <BenefitSplit> element.

<NetResult>

 

 

Identifies whether fees should be applied as the net part of the result or as the gross.

 

String: Yes/No   


Yes: Fees will be applied as a Net part of the result.
No: Fees will be applied as a Gross part of the result

This element is used when USEPERCENT attribute and REDUMPTIONMONEYTYPE attribute are defined in the <BenefitSplit> element.

XML Schema

<AssignmentProcessing>
<Assignment TYPE="[Apply|ApplyByFund|RemoveByFund|Transfer|GrossFullWithdrawal|Withdrawal|Switch]"     
BUCKET="[MathVariable]" BUCKETEFFECTIVEDATE=”[MathVariable]”>
 <Collapse  MONEYTYPECODE="[01|06|99]">"[Yes|No]"</Collapse> 
</Assignment>
<Post>
<BenefitSplit PROCESS="[Yes|No|String]" USEPERCENT="[Yes|No]" REDEMPTIONMONEYTYPE="[Code]">
<SyncOriginalUnits>[Yes|No]</SyncOriginalUnits>
<AIR>[String]</AIR>
<WriteBenefitChange>[Yes|No]</WriteBenefitChange>
<SegmentGUID>[String]</SegmentGUID>
<RecalculateFees>[Yes|No]</RecalculateFees>
<PercentResult>[String]</PercentResult>
<NetResult>[Yes|No|String]</NetResult>
</BenefitSplit>
</Post>
</AssignmentProcessing>
                     

 

 

 

 

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