FIFO Fund Removal Not Working As Expected For Fixed And Variable Products
(Doc ID 2652208.1)
Last updated on MARCH 25, 2020
Applies to:Oracle Insurance Policy Administration J2EE - Version 22.214.171.124 and later
Information in this document applies to any platform.
On : 126.96.36.199 version, General
FIFO fund removal not working as expected for Fixed and Variable products. FIFO fund removal not working as expected for Fixed and Variable products when a withdrawal is processed it is happening in a LIFO removal method. Despite fixed and variable funds being set up as FIFO (AsPlanFund.RemovalMethodCode = 03), withdrawals are being done using the LIFO (last in/first out) method. This becomes apparent when you process additional premiums and then process withdrawals. The withdrawal records reference these latest additional premium deposits instead of the earliest ones (ie, the initial premium).
When FIFO is selected as Fund Removal Method that is followed when removals are supposed to happen.
The issue can be reproduced at will with the following steps:
1) Create a Fixed and Variable funds in OIPA and set their Removal Method as FIFO
2) Create Premium and Withdrawal activities
3) Process premiums to allow money to be allocated
4) Process withdrawals to remove this money and notice the money is not removed correctly
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