4.1.8 Un-Allotted Fee Transaction

This topic provides information on Un-Allotted Fee Transaction.

Un-Allotted Fee Transaction

During the fee redemption transaction generation process, the system will check for 100% switch transaction that is Un-Allotted.

If Un-allotted, then the fee transaction is reversed:

• If there is an external switch (Pseudo), the fee would be taken proportionately from the switch in fund/s by means of a fee override and the fee transaction would not get generated.
• If there is an internal switch, the fee transaction would be generated from the switch in fund.

Note:

And during the 100% switch transaction process, the system will check for any fee transaction that is un-allotted.

Annuity Transaction

When you have entered all the mandatory information for a 100% switch transaction, system checks if the annuity is applicable for the policy and the month.

If annuity is applicable for the policy system will calculate the next annuity generation date using annuity frequency & annuity payment lag. If difference between annuity generation date and 100% switch transaction date is greater than or equal to 6 days (External switch) or 4 days (Internal Switch, then system will check for the funds for which 100% switch is being processed are also part of the annuity asset allocation.

If funds are common between 100% switch transaction & annuity asset allocation then following warning message gets displayed:

Annuity transaction is applicable for this policy, are you sure you wish to proceed with this switch?

Select override, for the normal annuity transaction.

If difference between annuity generation date & 100% switch transaction date is less than 6 days (External switch) or 4 days(Internal Switch), then system will check for the funds for which 100% switch is being processed are also part of the annuity asset allocation.

If funds are common between 100% switch transaction and annuity asset allocation then the system will display an error message as Annuity is in progress, this transaction can not be processed.

If annuity has already been generated before the switch and If funds are common between 100% switch transaction and annuity asset allocation then the system will display an error message as Annuity is in progress, this transaction can not be processed.

User should not be allowed to proceed with the transaction.