Configure the Transaction that Runs Valuation
Certain transactions require that a policy is valued because money is either moving in, transferring between funds or money is being withdrawn. Transactions such as Withdraw, FullSurrender or Additional Payment would affect the policy’s value hence valuation would need to be configured.
The first step is to create a new transaction in the appropriate plan. Once the transaction is created, security must be added and the transaction must be assigned a status in the EligibleTransactionsByPolicyStatus rule, which will allow OIPA users to access the transaction.
When the new transaction is first checked-in, a translation must be assigned to the transaction name. This is a required step before the transaction can be accessed in OIPA.
After the initial set-up steps are complete, the transaction sections can be configured.
The four major parts to consider when configuring a transaction that will run valuation are:
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