One-Time Withdrawal

Overview

The purpose of this interface is to inquire, submit or cancel operation for One Time Withdrawal transaction.

Through this interface user can Inquiry about withdrawal and know their eligibility towards withdrawal.

After getting projected potential resulting scenario user can decide whether to continue with Withdrawal transaction through provide Cancel and Submit option.

ALIP will receive the details for inquiry, cancel and submit operations to withdrawal transaction.

Inquire: User passes the details for inquiry request for one-time withdrawal. Request has information regarding amount, transaction effective date, policy number, target fund account. Interface processes information and sends back the Potential Resulting Values present in respective contract to the user. And, there is Withdrawal transaction request saved with incomplete status in ALIP.

Submit/Cancel: Based on the response on inquire, user can select desired option/step i.e. should processed or not for one-time withdrawal transaction. User canhave sent another request to the interface for submitting/cancelling the transaction.

Withdrawal transition which is saved as part of Inquire process can be saved with pending status or delete for submit and cancel options respectively.

All products are in scope under this interface functionalities.

Through this interface user can Inquiry about withdrawal and know their eligibility towards withdrawal.

After getting projected promised scenario user can decide whether to continue with Withdrawal transaction through provide Cancel and Submit option.

Requirements

Business Requirements

Process Flow

The external system would fire the message containing the one-time withdrawal Information request.

ALIP web adapters would pick up, process the message, convert it into XML format, and posts it onto the ALIP request queue.

ALIP process server will pick up the message, convert from ACORD to the canonical format, perform the necessary XSD validations, and other basic validations on the completeness of the Requirement information, existence of the contract in ALIP etc.

Post the necessary validations, it would invoke the required ALIP APIs for getting the necessary data.

For inquiry request, workflow will return with transaction details along with all the account quote and fund Information and the transaction will get saved in ALIP.

For submit request, workflow will again validate the request and incase of no errors, transaction will be created in pending section in ALIP.

For cancel request, workflow will delete the transaction created during inquiry.

In all above scenarios, a success response will be returned to the external system.

In case of a Processing failures, the same will be logged with proper error code, description and the exception information to the log files and an Integration Failure should be created.

Impact on ALIP system

This interface provides the ability for creation withdrawal transaction with Incomplete status on ALIP when user opted inquire process.

This interface provides the ability for creation withdrawal transaction in pending status on ALIP when user opted submit process.

This interface provides the ability to deletion transaction from Alip in case user opted cancel process.

Assumptions

Withdrawal process request support Amount no other transfer option like percentage.

Inquire process followed by Submit or Cancel process.

After Inquireprocess withdrawal transaction willbe present with Incomplete status and Submit/Cancel process can be applied on that incomplete transaction.

ALIP support Withdrawal transaction on policy with specific status only i.e. - 1. Active, 2.Payout3.Free look.

Dependencies

NA

Request Data Elements

Response Data Elements

Success/Error Handling