Benefit Split Prototype

In OIPA, Variable Annuity products use Benefit Split functionality to generate a policy’s guaranteed payment stream upon annuitization. There are many configuration steps involved in establishing this process. This prototype example gives the location of all the pieces of configuration that support the Benefit Split process.

Refer to the Benefit Split section of this help for complete configuration steps.

Prototype Examples

Benefit Split functionality was configured in the Dynamic Prototype Plan.

Plan Rules

These rules can be found in the Main Explorer under Prototype Company | Subsidiary Company | Prototype Child Company | Dynamic Prototype Plan. The specific folder under the Dynamic Prototype Plan where the rule resides is identified next to each rule.

  • FundListForAllocation: this rule is located in the Business Rules | Attached folder.
  • PolicyScreen: this rule is located in the Plan Rules folder.
  • EligibleTransactionsByPolicyStatus: this rule is located in the Plan Rules folder.
  • CalculateGeneralBenefitSplit: this rule is located in the Business Rules | Calculate folder.

Funds

The following funds were configured to support Benefit Split processing. These funds are located in the Admin Explorer under Administration | Funds | Prototype Company.

  • ABL Fixed
  • Dynamic Fixed
  • Variable Fund 1
    • Variable Fund 1 125

      • Variable Fund 1 125 3.0 (Benefit Fund)

      • Variable Fund 1 125 3.5 (Benefit Fund)

      • Variable Fund 1 125 5.0 (Benefit Fund)

    • Variable Fund 1 160

      • Variable Fund 1 160 3.0 (Benefit Fund)

      • Variable Fund 1 160 3.5 (Benefit Fund)

      • Variable Fund 1 160 5.0 (Benefit Fund)

  • Variable Fund 2
    • Variable Fund 2 125

      • Variable Fund 2 125 3.0 (Benefit Fund)

      • Variable Fund 2 125 3.5 (Benefit Fund)

      • Variable Fund 2 125 5.0 (Benefit Fund)
    • Variable Fund 2 160

      • Variable Fund 2 160 3.0 (Benefit Fund)

      • Variable Fund 2 160 3.5 (Benefit Fund)

      • Variable Fund 2 160 5.0 (Benefit Fund)

Map Group

The following Map Group was created to support Benefit Split. It can be found in the Admin Explorer in Administration | Map Groups.

  • InvestmentRate

Segment

The following segment was created in the Dynamic Prototype Plan. It can be found in the Main Explorer under Prototype Company | Subsidiary Company | Prototype Child Company | Dynamic Prototype Plan | Segments.

  • BenefitSplit

Transactions

The following transactions were configured to demonstrate Benefit Split. They can be found in the Main Explorer under Prototype Company | Subsidiary Company | Prototype Child Company | Dynamic Prototype Plan | Transactions. A list of the attached business rules for each transaction is also provided.

  • ABLStart

    • TransactionBusinessRulePacket

    • TransactionCosmetics

  • ApplyPremium

    • TransactionBusinessRulePacket

    • TransactionCosmetics

  • Issue

    • StatusChange

    • CreateSegments
    • TransactionBusinessRulePacket

    • TransactionCosmetics

  • Switch

    • DoBenefitSplitChange

    • TransactionBusinessRulePacket

    • TransactionCosmetics

  • QDROSplit

    • CreateSegments

    • DoBenefitSplitChange
    • TransactionBusinessRulePacket

    • TransactionCosmetics