GrossFullWithdrawal
The GrossFullWithdrawal Assignment type, located in the transaction XML, is similar to PartialWithdrawal, but the charges are applied within the removal amount.
| Type= GrossFullWithdrawal | |||||
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Allocations needed? |
No | ||||
| Element | Attributes | Parent Element | Description | Element/Attribute Value | |
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<Assignment> |
Required: Opening and closing tag for an Assignment | ||||
| TYPE |
<Assignment> |
Required: The GrossFullWithdrawal assignment defines a pro rata withdrawal of the amounts provided by the individual <MoneyType> elements. No allocations are used by this assignment.Values:GrossFullWithdrawal | |||
| IGNORENEGATIVECASHVALUES |
<Assignment> |
Optional |
Values: Yes, No Yes: Funds with a negative cash value are dropped during the pro rata calculation and dropped from the fund removal. No: Allows funds with negative cash value to be included in the pro rata calculation. The absolute value of the funds is used in the pro rata formula. The default is No |
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| <MoneyType> |
<Assignment> |
Required, Repeatable: Identifies the money type code for the money change records. This money type code applies while the fund's or deposit's cash value is 0 or positive. |
Values: money type code |
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| NAME |
<MoneyType> |
Required: The attribute provides the name of the math variable holding the amount of change for this money type code. |
Values: A math variable containing an amount |
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| BUCKET |
<MoneyType> |
Optional: This attribute identifies the bucket from which to pull the money from funds where buckets are part of the fund hierarchy. The bucket is identified by the integer value provided by this attribute. Note: For funds where a bucket has not been established, the bucket value is ignored. |
Values: A math variable containing an integer |
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| EXCLUDEFUNDTYPES |
<MoneyType> |
Optional: Comma-separated list of fund types. Allows funds to be excluded from the allocations that are moving money into a fund, based on the type of fund. |
Values: list of fund types |
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| MVACHARGE |
<MoneyType> |
Optional: Indicates whether there is an MVA Charge.
Values: Yes, No, literal, field, or a math variable |
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| MVAMONEYTYPE |
<MoneyType> |
Optional: Provides the money type code for MVA charge values |
Values: money type code |
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REDEMPTIONFEE |
<MoneyType> |
Optional: Indicates whether there is a Redemption Fee. |
Values: Yes, No, literal, field, or a math variable |
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REDEMPTIONMONEYTYPE |
<MoneyType> |
Optional: Provides the money type code for Redemption fees. |
Values: money type code |
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| FUNDOVERFLOWMONEYTYPE |
<MoneyType> |
Optional: Specifies the money type code of the fund overflow. |
Values: money type code |
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Element Value |
One or more MoneyType tags that define the amount and type of money to be applied. The tags can have an attribute named NETFIELD. |
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Note: Assignment fields must be negative (removals). Allocation records are created by the system with PercentInAllocation set to the ratio of the fund value to the policy cash value %. This is similar to PartialWithdrawal, but the charges are applied within the removal amount. |
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Used when |
Total Money-out |
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Examples |
FreeLook |
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XML Schema
<Assignment TYPE="GrossFullWithdrawal" IGNORENEGATIVECASHVALUES="[Yes|No]">
<MoneyType NAME="[math variable]" BUCKET="[integer]" EXCLUDEFUNDTYPES="[fund types]" MVACHARGE="[Yes|No]" MVAMONEYTYPE="[money type code]" REDEMPTIONFEE="[Yes|No]" REDEMPTIONMONEYTYPE="[money type code]" FUNDOVERFLOWMONEYTYPE="[money type code]">[money type code]</MoneyType>
<MoneyType>...</MoneyType>
</Assignment>
XML Examples
<Assignment TYPE="GrossFullWithdrawal"FUNDOVERFLOWMONEYTYPE="16" >
<MoneyType NAME="DisbursementAmountRemoved">32</MoneyType>
<MoneyType NAME="BonusRecapturedAmountRemoved">07</MoneyType>
<MoneyType NAME="PolicyContractFeeRemoved">43</MoneyType>
<MoneyType NAME="GMIBChargeDueRemoved">03</MoneyType>
<MoneyType NAME="GMABChargeDueRemoved">77</MoneyType>
<MoneyType NAME="GMDBChargeDueRemoved">95</MoneyType>
<MoneyType NAME="GMWBChargeDueRemoved">94</MoneyType>
</Assignment>
<Assignment TYPE="GrossFullWithdrawal" IGNORENEGATIVECASHVALUES="Yes">
<MoneyType NAME="MVMoneyOut" BUCKET="05" EXCLUDEFUNDTYPES="04,03" MVACHARGE="Yes" MVAMONEYTYPE="01" REDEMPTIONFEE="Yes" REDEMPTIONMONEYTYPE="01" FUNDOVERFLOWMONEYTYPE="01">01</MoneyType>