Transfer Indexed Funds (Money) from one Bucket to another Bucket
From Oracle Insurance Rules Palette
Transfer Indexed Funds from one Bucket to another Bucket
This feature is used to transfer the Index Funds amount (money) from one bucket to another bucket.
Prerequisites
- Investments for Index Funds should exist on a policy.
- PAS user should have access to FundsTransfer transaction of Index Prototype Plan.
New Items
Transaction name: FundsTransfer
Company name: Prototype Individual Child Company
Product Name: Individual Prototype Product
Plan Name : Index Prototype Plan
Attached BR : ReassignAllocations
Changes to Existing Items
New transaction FundsTransfer is added to EligibleTransactionByPolicyStatus BR (for active policy status) override of Index Prototype Plan.
Configuration Details
The below list of fields are configured for the transaction:
- Transfer Type
SOURCE DETAILS
- Select Fund
- Select Bucket Number
TARGET DETAILS
- Number of Funds
- Select First Fund
- Transfer Percentage For First Fund
- Select Second Fund
- Transfer Percentage For Second Fund
- Bucket Number
- Bucket Effective Date
With this transaction user is allowed to perform 3 different types of transfers between Index Funds:
Case 1: Choose the Transfer Type field value as 'Money transfer with source and target buckets as same' and then key in the required information.
Results: After processing an activity the cash value of source fund will be transferred to the target funds based on the Percentages chosen and source bucket.
Case 2: Choose the Transfer Type field value as 'Money transfer with source and target buckets as different' and then key in the required information.
Results: After processing an activity the cash value of source fund will be transferred to the target funds based on the Percentages chosen and target bucket.
Case 3: Choose the Transfer Type field value as 'Money Transfer on a specific bucket effective date' and then key in the required information.
Results: After processing an activity the cash value of source fund will be transferred to the target funds based on the Percentages chosen, target bucket and bucket effective date.