OLI_LU_FINACTTYPE

Title (OLI_LU_FINACTTYPE)
Financial Activity Type

Definition

Used By
AuthorizationTransaction (FinActivityType)
FinActivityTypeCC (FinActivityType)
FinancialActivity (FinActivityType)
FundingSourceMethodsAllowed (FinActivityType)
Holding (LastFinActivityType)
Loan (LastFinActivityType)
PaymentSourceCC (PaymentSource)
RateLockInfo (FinActivityType)

Codes
DescriptionNameValueDefinitionNotes
1035 External ExchangeOLI_FINACT_ROLLOVEREXT1035196A 1035 exchange from an external source.
1035 Internal ExchangeOLI_FINACT_1035INTERNAL412A 1035 exchange from an internal source.
Accumulated Loan InterestOLI_FINACT_ACCUMLOANINT229
Additional Payment - 1035 ExchangeOLI_FINACT_1035IADD211Additional Payment - 1035 Exchange = Subsequent 1035 exchange amount received from the "Old" contract, which is being applied.
Additional payment into a single premium policyOLI_FINACT_PREMIUMIADDSIN9
Additional premium received due to mode changeOLI_FINACT_MODECHANGEPREM405When going from a more frequent mode to a less frequent mode such as monthly to annually, this is the additional premium received to make the policy payments current on the new mode.
Ad Hoc ChargesOLI_FINACT_ADHOCCHARGE345Ad Hoc Charges
Adjustment - UnitsOLI_FINACT_ADJUNIT13
Adjustment - Units - ReversalOLI_FINACT_ADJUNITREV113Value from DTCC
Administrative FeeOLI_FINACT_ADMFEE14
Administrative Fee ReversalOLI_FINACT_ADMFEEREV114Value from DTCC
All Financial ActivitiesOLI_FINACT_ALL999When all financial activities are to be included transactions.
All Fund TransactionsOLI_FINACT_FUNDTRANSACTION349All Fund Transactions
AMB TaxOLI_FINACT_AMB356This is a Danish Tax on Earnings
Annual FeeOLI_FINACT_ANNFEE15
Annual Fee ReversalOLI_FINACT_ANNFEEREV115Value from DTCC
AnnuitizationOLI_FINACT_ANNUITIZATION100
Annuity Rider PaymentOLI_FINACT_ANNRIDERPYMT252Payment to the annuity rider which is attached to a whole life to term contract.
Apply contract cash value to cover daily cost of insuranceOLI_FINACT_LPSEDAILY270Contract is lapsing on a daily basis
Apply contract cash value to purchase extended term insurance.OLI_FINACT_CONVETI267Contract was converted to Extended Term Insurance
Apply contract cash value to purchase full paid up insurance.OLI_FINACT_CONVFULLPDUP336Activity generated as a result of a contract reaching the end of its premium paying term. The contract remains active until it reaches its mature/expiry date with no further premiums due. Example, 20 Pay Whole Life or Whole Life Paid Up at 95.
Apply contract cash value to purchase reduced paid up insurance.OLI_FINACT_CONVRPU269Contract was converted to Reduced Paid Up Insurance
Apply the interest due to loan balance (advance)OLI_FINACT_LOANINTCAPITARR306Interest that has been capitalized on a policy loan.
Apply the interest due to loan balance (arrears)OLI_FINACT_LOANINTCAPITADV307Interest that has been capitalized on a policy loan.
Asset AllocationOLI_FINACT_ASSALLOC17
Asset Allocation ReversalOLI_FINACT_ASSALLOCREV117Value from DTCC
Asset RebalancingOLI_FINACT_ASSREB18
Asset Rebalancing ReversalOLI_FINACT_ASSREBREV118Value from DTCC
Auto Loan PaymentOLI_FINACT_AUTOLN400
Auto Loan Payment ReversalOLI_FINACT_AUTOLNREV401Value from DTCC
Automatic CreditOLI_FINACT_AUTOCREDIT408A monetary amount is credited by the carrier, commonly based on a variety of potential triggers such as investment results. For example, when certain types of insurance components such as GMAB riders mature "in the money", the carrier makes an automatic credit.
Automatic Discounted PremiumOLI_FINACT_ADPPYMT250The system has processed a scheduled premium due from the Discounted Premium Fund.
Automatic Premium Depositor FundOLI_FINACT_APDFPYMT249The system has processed a scheduled premium due from the Premium Deposit fund.
Automatic Premium LoanOLI_FINACT_APL301A life insurance Non-forfeiture option that allows the insurer to pay overdue premiums on a fixed premium policy by establishing a loan against the policy's cash value.
BackpaymentsOLI_FINACT_BACKPAYMENT352Backpayments
Bill Dividend Shortfall AmountOLI_FINACT_BILLDIVSHORTFALL308A dividend shortfall exists when the dividend is used to fund the base policy or support a rider and the amount is insufficient to cover the premium or rider payment.
BuyOLI_FINACT_BUY338The Financial Activity is a Buy activity.
Calendar Year Expense ChargeOLI_FINACT_CHRGCALEXP322Activity representing the calendar year expense charge on the contract
Cancellation (Reinstatement)OLI_FINACT_CANCEL19
Capital Gains TransferOLI_FINACT_CAPGAINTRANS332
Cash Value BonusOLI_LU_FINACT_CVBONUS275A Cash Value Bonus is a reward that is based on the policies cash value amount at a stated periods of time. Generally there is a stated minimum that a policy must have in order to be eligible for this reward. Policy owner rewards are considered in the calculation of policy page values, NAIC summary values and current values on inforce forecasts.
Cash with ApplicationOLI_FINACT_CWA170Cash with application (CWA) includes the TOTAL amount received with the application when it is submitted to the carrier to fund the contract. The cash may be received via a wire, check, authorization for the carrier to perform an EFT, ACH and/or credit card transaction, etc
Cash with Application RefundOLI_FINACT_CWAREFUND171
Charge AdjustmentOLI_FINACT_CHRGADJUST319Adjustment made to the charges
Charge DeductionOLI_FINACT_CHRGDEDUCT321Activity representing the charge deduction
Charges on ReservesOLI_FINACT_RESERVECHARGE358Reserve Charge
Claim PaymentOLI_FINACT_CLAIMPYMNT5
Complex Payment ScenarioOLI_FINACT_COMPLEXPAYMENT407Used when a payment or set of payments in aggregate affect multiple financial activities. These may be made on a single Holding or at the Case or Master Holding level when the payment affects financial activities on multiple related Holdings.
Consistency Option AmountOLI_FINACT_CONSISTOPTAMT392Consistency Option Amount is type of bonus that is based on percentage of premiums paid as defined in the policy contract.
Conversion SurrenderOLI_FINACT_CONVRSURR283The financial results of an ArrType or ArrSubtype of Conversion Surrender. Conversion surrenders differ from a full surrender in that no surrender charges are deducted.
Cost of Insurance BonusOLI_LU_FINACT_COIBONUS271A cost of insurance reward is a refund of part of the cost of insurance (COI) charges. This is a plan design benefit and the refund is based on a contract durations. During certain periods a portion of the cost of insurance are accumulated for the reward and at stated contract anniversaries a percentage of the accumulated value is refunded to the policy owner. All Policy owner rewards are considered in the calculation of policy page values, NAIC summary values and current values on inforce forecasts.
Cumulative ChargesOLI_FINACT_CUMULATIVECHRG320Activity representing the accumulation of a month's charges prior to the actual processing of the charge
CWA ReversalOLI_FINACT_CWAREVERSAL172
DCA TransferOLI_FINACT_DCAXFER374Dollar Cost Average internal fund transfer
Death Claim DisbursementOLI_FINACT_DTHCLM23
Death Claim ReversalOLI_FINACT_DTHCLMREV123Value from DTCC
Direct Transfer Qualified FundsOLI_FINACT_TRANSIDIRQUAL223Qualified Transfer from a CD/Mutual Fund or other like funding source.
Disbursement of maturity valueOLI_FINACT_MATURITY268The financial activity as a result of the disbursement of the maturity value of the contract.
Discounted Premium WithdrawalOLI_FINACT_DPFWITHDRAW290The financial results of a policy provision that permitted the policy owner to reduce the policy's cash value by taking a withdrawal from the Discounted Premium Fund.
Dividend - cashOLI_FINACT_CASHDIVPAID241The financial activity representing the cash dividend that was paid.
Dividend depositOLI_FINACT_DIVOPTACCUM244A life insurance dividend option under which policy dividends are left on deposit with the insurer to accumulate at interest. Also called the Accumulation Dividend Option.
Dividend Payment (Policy)OLI_FINACT_DIVPOL4
Dividend TransferOLI_FINACT_DIVTRANS331
Divorce Payment InOLI_FINACT_PAYINDIVORCE379Where Payment In is due to Divorce
Divorce Payment OutOLI_FINACT_PAYOUTDIVORCE380Where Payment Out is due to Divorce
Dollar Cost AverageOLI_FINACT_DLRCOST22
Dollar Cost Average ReversalOLI_FINACT_DLRCOSTREV122Value from DTCC
Dump In / Additional PaymentOLI_FINACT_ADDTL230Additional premium in excess of regular premium payments.
Employee Contribution (optional)OLI_FINACT_EMPLOYEEOPTCONTRIB375To pass through Employee optional information
Employee Deferred CompensationOLI_PAYMENTSRC_EEDC236Payments are from an employee deferred compensation program
Employee elective deferral/salary reductionOLI_PAYMENTSRC_EEDSR235Payments are from an elective deferral or salary reduction time
Employee excess elective deferralsOLI_PAYMENTSRC_EEEED239Payments are in excess of an elective deferral program
Employee mandatoryOLI_PAYMENTSRC_EEMNDT234Payments are from a mandatory employee contribution
Employee non-deductible mandatoryOLI_PAYMENTSRC_EENONDED237Payments are from a non-deductible mandatory employee program
Employee non-deductible voluntaryOLI_PAYMENTSRC_EEVOL233Payments are from a non-deductible voluntary program
EmployerOLI_PAYMENTSRC_ER231Payments are from an employer
Employer discretionaryOLI_PAYMENTSRC_ERDISC232Payments are from an employer discretionary program
Employer matchingOLI_PAYMENTSRC_ERMTCH240Payments are from an employer matching program
Enhanced Death BenefitOLI_FINACT_ENHDTHBENE209
Enhanced Death Benefit ReversalOLI_FINACT_ENHDTHBENEREV309Value from DTCC
Excess InterestOLI_FINACT_EXCESSINT410Amount credited to the cash value of an insured's life insurance policy above the minimum interest rate it guarantees.
Exchange CreditOLI_FINACT_EXCHCRDT29
Exchange Credit ReversalOLI_FINACT_EXCHCRDTREV129Value from DTCC
Expense BonusOLI_LU_FINACT_EXPNSBONUS272An expense bonus refund reward is a refund of part of the expense charges. This is a plan design benefit and the refund is based on a contract durations. During certain periods a portion of the cost of insurance are accumulated for the reward and at stated contract anniversaries a percentage of the accumulated value is refunded to the policy owner. All Policy owner rewards are considered in the calculation of policy page values, NAIC summary values and current values on inforce forecasts.
External transfer from one Trustee to another TrusteeOLI_FINACT_TRANSEXTTTETTE222
Extra CreditOLI_FINACT_EXTCRDT95
Extra Credit ReversalOLI_FINACT_EXTCRDTREV188Value from DTCC
Fee LiquidationOLI_FINACT_FEELIQ94
Fee Liquidation ReversalOLI_FINACT_FEELIQREV187Value from DTCC
First Year Load BonusOLI_LU_FINACT_FIRSTYRBONUS274A First Year Load Bonus is a reward where a portion of the first year premium loads are refunded. This is a plan design benefit and the refund is based on a contract durations. Policy owner rewards are considered in the calculation of policy page values, NAIC summary values and current values on inforce forecasts.
Fixed BonusOLI_FINACT_FIXBONUS98
Fixed Bonus ReversalOLI_FINACT_FIXBONUSREV191Value from DTCC
Free LookOLI_FINACT_FREELK30
Free Look Premium CancellationOLI_FINACT_FREELKCANC32
Free Look ReversalOLI_FINACT_FREELKREV182Value from DTCC
Free Look Value CancellationOLI_FINACT_FREEVALUECANCL363Reversal of cancellation of contract (reinstatement) during free look period - premium. This is dependent upon state.
Full SurrenderOLI_FINACT_FULLSURR10The financial results of an ArrType (Full surrender). The Financial Activity would reflect the calculated values and any cash values that were disbursed.
Fund TransferOLI_FINACT_FUNDTRANSFER103
Fund Transfer - Performance LockOLI_FINACT_FUNDTXRPERFLOCK416After a performance lock takes place (OLI_FINACT_PERFLOCK), there is often a need to transfer funds for example to an indexed fund or to a holding account.
Gross LoanOLI_FINACT_GROSSLOAN3A loan where the amount of the loan check sent to the Policy owner may be less than the amount that was requested due to applicable taxes, fees and charges.
Group TransferOLI_FINACT_GRPXFER365Actual fund exchange between the sub-funds, when a block of contracts receives the same transfer from a market timer.
Guaranteed Interest BonusOLI_LU_FINACT_GUARINTBONUS277A Guaranteed Interest bonus is a type of policy owner reward that guarantees a higher interest rate that is applied to the policy account value It is generally based on either policy duration or account value. Since this reward is guaranteed it is included in guideline premium, reserves and on the guaranteed values for inforce forecasting. All Policy owner rewards are considered in the calculation of policy page values, NAIC summary values and current values on inforce forecasts.
Index Term RenewalOLI_FINACT_RENEWAL414At the end of an index term if no instructions are received, it will remain in this investment for another index term.
Individual (IRA)OLI_PAYMENTSRC_IRA238Payments are from an employees individual IRA account
Initial Payment - 1035 ExchangeOLI_FINACT_1035INIT210The initial 1035 exchange amount received from the "Old" contract, which is being applied.
Initial payment - This is the first payment receivedOLI_FINACT_PREMIUMINIT7This is the initial premium.
Initial Term Insurance PremiumOLI_FINACT_PREMIUMINITTERM8Some policies are sold with an initial term coverage. This is the premium applicable to that initial term period
Interest Credited on Death ClaimOLI_FINACT_INTDTHCLAIM312Interest paid on death claim
Interest ExpenseOLI_FINACT_INTRST385Interest Expense
Interest on Discounted PremiumsOLI_FINACT_DISCPREMINT263The financial activity of crediting interest to the discounted premium fund.
Interest on Dividends on DepositOLI_FINACT_DIVINT262The financial activity of crediting interest to dividends on deposit
Interest Only Withdrawal (Gross)OLI_FINACT_INTGROSSWITH297A policy provision that permits the policy owner to reduce the amount in the policy's accumulated values by taking only the amount of earned interest.
Interest Only Withdrawal (Net)OLI_FINACT_INTNETWITH296A policy provision that permits the policy owner to reduce the amount in the policy's accumulated values by taking only the amount of earned interest.
Interest on Premium Depositor FundsOLI_FINACT_PDFINT264The financial activity of crediting interest to the premium depositors fund
Interest PostingOLI_FINACT_INTPOST381The posting (or crediting) of interest to the account value of a non-variable plan (fixed annuity, universal life, ISL, etc.), or to a fixed SubAccount of a variable plan.
Interest SweepOLI_FINACT_INTSWEEP335
Internal Automatic Surrender - Lapse with Loan ValueOLI_FINACT_INTAUTOSURR286The financial results of terminating a policy because premiums were not paid when they became due and there was insufficient cash value. The policy status is systematically changed and the Financial Activity object will reflect any financial data that were a result of this activity.
Internal transfer from one trustee to another trusteeOLI_FINACT_TRANSINTTTETTE221
Investigation ExpenseOLI_FINACT_INVTG386Investigation Expense. For example, claim investigation expenses to confirm disability.
Investment CommissionOLI_FINACT_INVESTCOMMISSION387The commission which a pension company receives from external, managed investment funds when their customers invest in these funds. The company may then share this rebate among the investors in the fund.
Jumbo CreditOLI_FINACT_JUMBCREDIT366Extra interest credit if a certain premium amount is reached.
Legal expensesOLI_FINACT_LEGAL384Legal expenses
Loan DefaultOLI_FINACT_LOANDEFAULT367A partial withdrawal automatically taken out of the policy when the loan defaults.
Loan Interest PaymentOLI_FINACT_LNINTPYMT254Payment credited toward loan interest due.
Loan PaymentOLI_FINACT_LOANPYMNT2
Loan PayoffOLI_FINACT_LNPAYOFF251A Payment which clears the outstanding loan balance, I.e., when you payoff your mortgage the last payment is always noted as "Loan Payoff".
Loan Payoff -- Premium Reduction DividendsOLI_FINACT_LNPYOFFBYDIV316When a policy has an outstanding loan which has a loan value that came from Accums on deposit or the value of additions and the Accums are withdrawn or the Additions are surrendered, the loan is reduced i.e., paid off to reflect the reduction is cash value.
Loan Principal ReductionOLI_FINACT_LNPRINCRED409Financial activity of applying premium only to the principal amount of the loan; ie a "Principal Payment".
Market Value AdjustmentOLI_FINACT_MVA228Fund is subject to Market Value Adjustment.
Maximum WithdrawalOLI_FINACT_MAXALLOWED287Maximum withdrawal allowable under the plan design
Max LoanOLI_FINACT_MAXLOAN305A loan representing the maximum amount allowed to be secured by the policy's cash value.
MEC Excess Premium RemovalOLI_FINACT_EXCESSPREMWD403Remove excess money causing policy to be a MEC.
Minimum DistributionOLI_FINACT_MINMIUMDIST102The minimum distribution from the account, not related to Tax requirements.
Missed Premium PaymentOLI_FINACT_MISSEDPREM402Used to indicate that a scheduled premium payment was missed.
Money InOLI_FINACT_MONEYIN361Aggregated Money In Activities
Money OutOLI_FINACT_MONEYOUT362Aggregated Money Out Activities
Negative Risk PremiumsOLI_FINACT_NEGRISKPREMIUMS355Negative Risk Premiums
Net LoanOLI_FINACT_LOANTAKEN300A loan where the amount of the loan check sent to the Policy owner is exactly the amount that was requested. The actual loan that was processed may be for more than the policy owner requested if any applicable taxes or expense charges were added to the requested loan amount.Prior Description was Loan Taken - Net Loan which explains the Lookup Code Name.
Non-Guaranteed Interest BonusOLI_LU_FINACT_NONGUARINTBONUS276A Non-Guaranteed Interest bonus is a type of reward which offers a higher interest rate that is applied to the policy account value It is generally based on either policy duration or account value. All Policy owner rewards are considered in the calculation of policy page values, NAIC summary values and current values on inforce forecasts.
Non-Preferred Standard LoanOLI_FINACT_NONPREF404A policy provision which allows the policy owner to take a standard (regular) loan from the carrier. Unlike some Preferred loans offering low or zero net-cost, standard (regular) loans often charge a different loan interest rate than the rate credited to the impaired loan amount/loan collateral fund.
One Year Term Additions Partial SurrenderOLI_FINACT_OYTPARTSURR293The financial results of a policy provision that permitted the policy owner to reduce the policy's cash value or accumulated values by taking a withdrawal from One Year Term Additions.
OtherOLI_OTHER2147483647
Over Contribution WithdrawalOLI_FINACT_OVERCONTWITHD368If the client has qualified policy and gave too much contribution, some is given back. Client-initiated withdrawal.
Paid-up Additions - Full SurrenderOLI_FINACT_PUAFULLSURR288The financial results of a policy provision that permitted the policy owner to reduce the policy's cash value by surrendering the total amount of Paid Up Additions.
Paid-up Additions Partial SurrenderOLI_FINACT_PUAPARTSURR292The financial results of a policy provision that permitted the policy owner to reduce the policy's cash value or accumulated values by taking a withdrawal of Paid Up Additions.
PAL TaxOLI_FINACT_PAL357This is a Danish Tax on yield
Partial AnnuitizationOLI_FINACT_PARTIALANNUIT369Payments associated with annuitizing a portion of an account that no longer has surrender penalties associated with it
Partial SurrenderOLI_FINACT_PARTSURR11This is different from a withdrawal because there is an expectation that surrender charges will apply.
Partial SwitchOLI_FINACT_PARTSWITCH340The Financial Activity is a Partial Switch activity.A partial switch is done when only part of the value of an investment is moved from one fund or investment to another within the same fund management company. No sale is necessary to move monies in this way.
Pay loan from dividendsOLI_FINACT_DIVREDLOAN246A life insurance dividend option under which policy dividends are used to reduce policy loan balance. A policy loan is secured by the policy's cash values and cannot exceed the cash value. When the policy death benefits are paid, any outstanding policy loan balances is deducted from the policy proceeds.
Payment Overage Write-offOLI_FINACT_PYMNTOVERAGE315Activity reflecting the amount written off due to a received payment that was over the required payment. Companies set an amount by which they will simply retain an overpayment amount. If the over payment is more than the predefined limit, they will cut a refund check. Typically it is something like 2 - 3 dollars
Payment Shortage Write-offOLI_FINACT_PYMNTSHORTAGE317Activity reflecting the amount written off because a payment was under a carrier's predefined over/short amount. Companies set an amount by which they will simply write off because a payment is over or short by that amount. Typically it is something like 2 - 3 dollars
Payout of Accumulated InterestOLI_FINACT_INTPAY328The transaction was a payment of accumulated interest out of a contract.
Pay premium due on death claimOLI_FINACT_PREMREFDEATH284When a death claim is processed this is the amount of paid premiums that is being returned. It is a separate and distinct financial activity.
Pay premium from dividendOLI_FINACT_DIVREDPREM243A life insurance dividend option under which policy dividends are used to reduce premiums. Premiums are the series of payments, required by the insurer to keep the life insurance contract in force.
Percentage of Value WithdrawalOLI_FINACT_PCTVALWITH333
Performance LockOLI_FINACT_PERFLOCK413A financial activity that is triggered when a performance lock takes place due to customer request or when a designated threshold amount or percent is reached.
Preferred LoanOLI_FINACT_PREF299The interest rate charged on preferred loans provides a favorable (lower) rate than the company's declared loan interest rate. A "preferred" loan is a loan where the interest rate charged to borrow is the same or close to the rate credited on the collateral secured in the policy (impaired cash value or loan collateral account), reducing or eliminating the net cost of borrowing. Some "preferred" loans are called"wash loans" when the interest rate charged and credited are the same. A"preferred" loan may not be available until a designated policy year, and the maximum available preferred loan amount is often limited based on product rules (such as a fixed amount, based on cost basis or gain, or 10% of account value).
Preferred WithdrawalOLI_FINACT_PREFERREDWITH343Type of Withdrawal activity that does not force a Face decrease like a regular Withdrawal
Premium BonusOLI_FINACT_PREMBONUS390The monetary amount that is credited to the initial purchase payment.
Premium ChargesOLI_FINACT_PREMIUMCHARGE359Premium Charges
Premium Deposit Fund AdditionOLI_FINACT_PDFADD310Financial Activity event use to apply additional money to the Premium Deposit Fund
Premium Deposit Fund AdjustmentOLI_FINACT_PDFADJUST311Activity to adjust the Premium Deposit Fund
Premium Depositor Fund WithdrawalOLI_FINACT_PDFWITHDRAW291The financial results of a policy provision that permitted the policy owner to reduce the policy's cash value by taking a withdrawal from the Premium Depositor Fund.
Premium PaymentOLI_FINACT_PREMIUM1
Premium Qualification CreditOLI_FINACT_PREMQUALCREDIT391Premium Qualification Credit is type of bonus that is based on a return of the MAP. Should the MAP premium change during a policy year, the reward payable at the end of that year would be based on the RAP premium for that policy year.
Prepaid Loan InterestOLI_FINACT_PREPAIDLOANINT226
Private ContributionsOLI_FINACT_PRIVATECONTRIBUTION376To pass through Private Contribution info
Pro Rata InterestOLI_FINACT_PRORATAINT411Pro-rating also refers to the practice of applying interest rates to different time frames. For example, if the interest rate was 12% per annum, you could pro-rate this number to be 1% a month (12%/12 months).
Purchase paid up additions, where source of funds is dividends.OLI_FINACT_DIVPUA242Additional life insurance purchased with policy dividends. No additional premiums are needed for paid-up additions. Also called the Dividend Additions.
Purchase PUA's, source of funds is not dividendsOLI_FINACT_NONDIVPUA393Purchase additional insurance in the form of paid up additions (PUA's) where the source of funds is not dividends. This may include other policy proceeds or additional premium payments.
Purchase term dividend optionOLI_FINACT_DIVOPTOYT245A policy dividend that is used as a net single premium to purchase one-year term insurance. Also called additional insurance option or the fifth dividend option.
PVT 05OLI_FINACT_PVT247247
PVT 05OLI_FINACT_PVT253253
PVT 05OLI_FINACT_PVT255255
PVT 05OLI_FINACT_PVT259259
PVT 05OLI_FINACT_PVT260260
PVT 05OLI_FINACT_PVT265265
PVT 05OLI_FINACT_PVT266266
PVT 05OLI_FINACT_PVT282282
PVT 05OLI_FINACT_PVT285285
PVT 05OLI_FINACT_PVT304304
PVT 05OLI_FINACT_PVT314314
PVT 05OLI_FINACT_PVT318318
PVT 05OLI_FINACT_PVT324324
RecontributionOLI_FINACT_RECONTRIBUTION415Used for recontribution of distributions into a qualified and non-qualified plan where the policy allows.
Recurring Modal Maturity PaymentOLI_FINACT_RECURRINGPAY329The transaction was a regular recurring maturity payment out of the contract.
Recurring Modal Plan Contribution or DepositOLI_FINACT_RECURRINGDEP326The transaction was a regularly scheduled recurring payment or deposit into a contract.
Reduced Paid Up Refund ExcessOLI_FINACT_REFUNDPUEXCESS258Refund of excess cash value over the net single premium used to purchase the reduced paid up insurance.
Refund based on Cost of Insurance and Expenses BonusOLI_LU_FINACT_COIEXPBONUS273the refund is based on a contract durations. During certain periods a portion of the cost of insurance are accumulated for the reward and at stated contract anniversaries a percentage of the accumulated value is refunded to the policy owner. All Policy owner rewards are considered in the calculation of policy page values, NAIC summary values and current values on inforce forecasts.
Refund of Cash ValueOLI_FINACT_REFUNDCV256Refund of Cash Value as a result of a face amount decrease
Refund of Premium - cash surrenderOLI_FINACT_REFUNDPRMSURR406Refund of premium as a result of cash surrender
Refund of Premium - face amount decreaseOLI_FINACT_REFUNDPRM257Refund of unearned premium as a result of a face amount decrease
Reinstatement InterestOLI_FINACT_REININT313Some plans require that reinstatement interest may be required on past due premiums. This activity reflects the amount of reinstatement interest paid.
Reinstatement PremiumOLI_FINACT_REINPYMT248Payment to reinstate the contract
Required Minimum Distribution WithdrawalOLI_FINACT_REQMINWITH298Required minimum withdrawal based on IRS or Plan minimums
Returned Item Suspense InOLI_LU_FINACT_RTNDITEMIN280The financial activity that occurs when a check or EFT is returned as "unpaid" by a clearing house, thus placing a debit "suspense" item against the policy.
Returned Item Suspense OutOLI_LU_FINACT_RTNDITEMOUT281The financial activity that occurs when the debit "suspense" item is cleared from the policy as the monies have been replaced or the original financial activity has been reversed.
Risk PremiumsOLI_FINACT_RISKPREMIUMS350Risk Premiums
Rollover from an external sourceOLI_FINACT_ROLLOVEREXT192Qualified Rollover/Transfer from an Insurance Product - External
Rollover from an external source that is a 1035 exchange into a single premiumOLI_FINACT_ROLLOVEREXT1035S197Single Premium Addition - 1035 Exchange = The 1035 exchange amount from the"Old" contract, which is being applied.
Rollover from an external source that is into a Roth IRAOLI_FINACT_ROLLOVEREXTR195
Rollover from an external source that is tax qualifiedOLI_FINACT_ROLLOVEREXTQ194
Rollover from an internal sourceOLI_FINACT_ROLLOVERINT193Qualified Rollover/Transfer from an Insurance Product - Internal
Rollover from an internal source into a Roth IRA.OLI_FINACT_ROLLOVERINTR198Traditional IRA to Roth Internal Rollover
SellOLI_FINACT_SELL342The Financial Activity is a Sell activity.
Sell AllOLI_FINACT_SELLALL337The Financial Activity is a Sell All activity.
Short SellOLI_FINACT_SHORTSELL341The Financial Activity is a Short Sell activity.
Single and Top Up PremiumsOLI_FINACT_SINGLE351This is to cover single premiums and top up premiums, which is why we cannot really use OLI_FINACT_PREMIUMINIT
Single Investment Maturity PaymentOLI_FINACT_SINGLEMATPAY327The transaction was a single lump sum payment out of a contract.
Single Premium ChargesOLI_FINACT_SINGLEPREMIUMCHARGES377Single Premium Charge
Specified Dollar Amount Withdrawal (Gross)OLI_FINACT_SPECAMTGROSSWITH294The amount of money that is sent to the policy owner is less than the requested withdrawal amount.
Specified Dollar Amount Withdrawal (Net)OLI_FINACT_SPECAMTNETWITH6Amount is a level payment specified as the net amount to the payee ( i.e. after fees and taxes).
Substantially Equal PaymentsOLI_FINACT_SUBSTEQUAL330As defined in IRC 72(t) for Qualified plans and 72(q) for Non-Qualified plans, substantially equal payments is one method of permitting equal periodic payments to be taken from a contract before and individual is 59 1/2 and not have the 10% penalty apply.
Surrender ChargeOLI_FINACT_SURRCHARGE323Financial Activity reflecting the amount of surrender charge.
Surrender-Free Amount WithdrawalOLI_FINACT_SURRFREEWITH295The amount of a withdrawal that is free from surrender/expense charges.
SwitchOLI_FINACT_SWITCH339The Financial Activity is a Switch activity.A switch is done when the full value of an investment is moved from one fund or investment to another within the same fund management company. No sale is necessary to move monies in this way.
Systematic Payout i.e. Systematic WithdrawalOLI_FINACT_PAYOUTSYSTEMATIC101
Tax on EventsOLI_FINACT_EVENTCHARGE344Charges on Specific Events
Tax on SurrendersOLI_FINACT_SURRENDERTAX360Tax on Surrenders
Threshold TransferOLI_FINACT_THRESHTRANSFER334A system generated fund transfer that is triggered when a designated threshold amount is reached. In the majority of cases it is used on money market or cash/daily accounts that have systematic deposits. When the balance on the account reaches a certain level there are sufficient funds to purchase a term type deposit and the funds are transferred.
Trade ChargesOLI_FINACT_TRADECHARGE348Trade Charges
Transfer InOLI_FINACT_TRANSIN220Non Qualified Transfer from a CD/Mutual Fund or other like funding source.
TSA Home LoanOLI_FINACT_HOME302A loan from a 403(b) plan for the purpose of purchasing a house. The house must be the policy owners primary residence. A TSA home loan has predetermined loan re-payment amounts, and dates. The loan must also be paid back with a certain amount of years. Any missed loan re-payment generates a withdrawal and the policy owner is 1099.
TSA Loan Repayment SurrenderOLI_FINACT_TSALOAN289The financial results of a Withdrawal processed due to a default of a scheduled loan repayment. TSA loan Repayments are governed by the IRS and failure to make a loan repayment results in a specific type of withdrawal which is than 1099. There are different IRS treatments for withdrawals that are processed to repay TSA loans, than just a withdrawal.
TSA Non-Home LoanOLI_FINACT_NONHOME303A loan from a 403 (b) plan. A TSA Non- home loan has predetermined loan re-payment amounts, and dates. The loan must also be paid back with a certain amount of years. Any missed loan re-payment generates a withdrawal and the policy owner is 1099.
Unapplied Cash InOLI_LU_FINACT_UNAPPLDCASHIN278The financial activity that occurs when placing unidentified monies in"suspense" on a policy while awaiting instructions on how the monies are to be applied.
Unapplied Cash OutOLI_LU_FINACT_UNAPPLDCASHOUT279The financial activity that occurs when removing previously unidentified monies from"suspense" so that they may be applied to a specified contract(s).
Unearned Dividend Option Premium PaymentOLI_FINACT_UNEARNEDDIVOPTPREM227
Unearned Premium PaymentOLI_FINACT_UNEARNEDPREM225
UnknownOLI_UNKNOWN0
Waiver of PremiumOLI_FINACT_WOP378Identify a waiver of premium financial activity.
Withdrawal of dividends on depositOLI_FINACT_DIVWTHDRWL261