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Withdrawal

Description

The Withdrawal Assignment type, located in the transaction XML,is used to remove money from funds. The Assignment parameters specify details of fees that may accompany the withdrawal.

Withdrawal Assignment Type
Type	Withdrawal
Allocations needed?	Yes
Attributes	MONEYTYPE	Money type to assign to the principal withdrawal amount.
	POLICYFREEAMOUNT	Policy Amount in base currency that is exempt from the SurrenderChargeRate.
	SURRENDERCHARGERATE	Percentage (between 0.00 and 1.00) to be charged to the redemption funds in the transaction. Not valid with SurrenderChargeAmount.
	SURRENDERCHARGEAMOUNT	Flat amount in base currency to be charged to the redemption funds in the transaction. Not valid with SurrenderChargeRate.
	SURRENDERCHARGEMONEYTYPE	Required only if a Surrender charge fee rate or amount is present. Applies a MoneyType for the calculated charge amount.
	REMOVALMETHOD	[Gross, Net] literal values only. Indicates if the requested amount or percent is gross or net of the surrender charge. Default is Gross.
	IF	Conditional expression that, if true, will allow the assignment to execute.
Element Value	none
Note: This assignment does not support the MoneyType element. SURRENDERCHARGERATE cannot be used together with SURRENDERCHARGEAMOUNT and POLICYFREEAMOUNT, only one is allowed. SURRENDERCHARGERATE will take precedence and the other parameters will be ignored. Requires MathStatement element with FindNextExchangeDatePricing or FindLastExchangeDatePricing function.
Used when	To remove money from unit linked funds using guaranteed price dates.
Examples	Withdrawal

XML Example

<Assignment TYPE="Withdrawal" REMOVALMETHOD="Gross" MONEYTYPE="32" SURRENDERCHARGERATE="PartialSurrenderPercentCharge" SURRENDERCHARGEMONEYTYPE="07"

IF="MVSurrenderChargeMethod = 'GROSS' And MVWithdrawalType = 'DirectedDeduction'">

</Assignment>

Withdrawal

Description

Note:

XML Example