Help On Insurance Valuation Rule

This Help page allows you to search and select an insurance valuation rule and transfer the same to the field in which it is required.

You can carry out a search based on the type of the policy, the type of the revaluation, the revaluation option and the basis of revaluation. The system retrieves all the valuation rules based on the search criteria entered. The selected rule number is transferred to the required page, when it is confirmed.

Click the lens icon positioned next to the “Insurance Valuation Rule No.” field.

The “Help On Insurance Valuation Rule” page appears.

Enter the following fields in the “Search Criteria” group box to search for a valuation rule:

Policy Type	Use the drop-down list box to select the type of the policy. The policy type must have been defined as quick codes in the “Created Quick Codes” activity of the “Quick Codes Definition” business component and must be in “Active” status. The system displays “All” by default on launch of the page.
Revaluation Type	Use the drop-down list box to select the method of revaluation from “Upward” or “Downward”.
	Upward – indicates that the asset will be valued on the appreciating value of the asset.
	Downward – indicates that the asset will be valued on the depreciating value of the asset.
	The system displays “Downward” by default on launch of the page.
Revaluation Option	Use the drop-down list box to select the revaluation option from “Index”, “By Percentage”, “By Amount” or “To Amount”.
	Index – indicates that the revaluation is done with respect to an index provided.
	By Percentage – indicates that the revaluation is done based on a defined percentage.
	By Amount – indicates that the revaluation is done based on a fixed amount.
	To Amount – indicates that the revaluation done must not exceed a fixed amount.
	The system displays “Index” by default on launch of the page.

Note: If “Index” is selected “Calendar Year”, “Age”, “Financial Year” and “Date Range” will be available for selection in the “Index Option” field.

Index Option	Use the drop-down list box to select the index option from “Calendar Year”, “Age”, “Financial Year” or “Date Range”.
	Age – indicates that the index with respect to the age of the asset will be considered during the revaluation process.
	Calendar Year – indicates that the index with respect to the calendar year will be considered during the revaluation process.
	Date Range – indicates that the index with respect to the date range in which the asset was purchased will be considered during the revaluation process.
	Financial Year – indicates that the index with respect to the financial year will be considered during the revaluation process.
	The system displays “Financial Year” by default on launch of the page.
Revaluation Basis	Use the drop-down list box to select the basis on which the revaluation of the asset is done from “Asset Cost” or “Revaluation Cost”.
	Asset Cost – indicates that the asset is valued based on its original cost.
	Revaluation Cost – indicates that the asset is valued based on the revaluation practices.
	The system displays “Asset Cost” by default on launch of the page.
Depreciation Book Code	Use the drop-down list box to select the code identifying the depreciation book in which the depreciation details are available. All the depreciation books that have been mapped to the login organization unit will be available for selection in the ascending order. The system displays “Blank” by default on launch of the page.

Click the “Search” pushbutton to retrieve the search results.

The system displays the following in the “Search Results” multiline based on the search criteria entered.

Valuation Rule No	The number identifying the valuation rule.
Rule Desc.	A textual description of the rule.
Policy Type	The type of the insurance policy.
Revaluation Type	The type of revaluation done. It could be “Upward” or “Downward”.
	Downward – indicates that the asset must be revalued downward from the original value of the asset.
	Upward – indicates that the asset must be revalued upward from the original value of the asset.
Revaluation Option	The option by which the asset has been revalued. It could be “Indexes”, “Percentage”, “By Amount” or “To Amount”.
	Indexes – indicates that the revaluation has been done with respect to an index provided.
	Percentage – indicates that the revaluation has been done based on a percentage defined.
	By Amount – indicates that the revaluation has been done based on a fixed amount.
	To Amount – indicates that the revaluation done must not exceed a fixed amount.
Index Option	The index option selected. It could be “Calendar Year”, “Age”, “Financial Year” or “Date Range”.
	Calendar Year – indicates that the calendar year has been taken into account with respect to an index during the revaluation process.
	Age – indicates that the age of the asset has been taken into account with respect to an index during the revaluation process.
	Financial Year – indicates that the financial year in which the revaluation was done was taken into account during the process.
	Date Range – indicates that the date range in which the asset was purchased was taken into account during the revaluation process.
Revaluation Basis	The basis on which the revaluation of the asset is done.
	§ Asset Cost – indicates that the asset is valued based on its original cost.
	§ Revaluation Cost – indicates that the asset is valued based on the revaluation practices.
Depreciation Book Code	The code identifying the depreciation book.

Check the box in the “Select” column of the multiline to select a valuation rule.
Click the “OK” pushbutton.