You are here: Configuration > Allocations > Allocations and Assignments

Allocations and Assignments

Allocations, Assignments and Valuation work together to move money between funds associated with a policy and track the value of the funds. Assignment allows money to be deposited, withdrawn or transferred from the funds. Allocation provides a request as to how to affect each fund, such as a deposit, withdrawal or transfer. Valuation is the result after money movements are completed.

Allocations

Allocations support the movement of money into or out of funds. When payments or withdrawals are made, the configuration of allocations allows for the introduction of logic to move the money into or out of a fund.

Plan-level Allocations are allocations made at the plan level. For example, during the Freelook period all deposits are invested in Fund A until the end of the Freelook period is reached where it will be distributed to the funds specified by the client. The allocation to Fund A during the Freelook period is an example of a plan allocation. The plan-level allocations are specific to a plan, not a client or policy. Plan-level allocations can be established using the AllocationScreen business rule.

If Allocation data needs to be displayed, the AllocationScreen business rule must be configured.

Allocation data is stored in the AsAllocation database table. The AsAllocations table is linked to the AsPolicy, AsPlan and AsActivity tables through the RelatedGUID column.

Allocation Tables

Allocation Table and Related Tables

Assignments

Assignments are used in conjunction with allocations when the allocated values are to be applied, transferred, or removed from a policy's value. Assignment values can be in the form of a monetary amount, percentages, number of units or pro-rata distribution of the allocation. There are several types of assignments that can be used, namely:

APPLYBYFUNDTO: used to apply money/units to a fund for a specific policy.
GROSSWITHDRAW: used to remove money/units from a fund for a specific policy.
TRANSFER: used to move money/units from one a fund to another fund for a specific policy.
SWITCH: used specifically for unit linked products. This is similiar to the TRANSFER assignment, in that it moves money/units from one fund to another on a policy.
WITHDRAWAL: supports the removal of amounts or percents from unit linked funds.

Additional assignment types can be found in the XML Configuration Guide.

Completion of Assignment processing always adds new records to AsValuation; the record of the money movement. The Assignment process will update existing allocation records on AsAllocation when it is executing a pro-rata distribution of the money movement. In all situations, if the business rule ReassignAllocations is attached to the activity, Assignment processing will add new records to AsAllocation based on the allocation results from ReassignAllocations.