Last updated: 2025-12-02
SmartPolicies - Subaccounts Content Link
SmartPolicies - Subaccounts Content Link
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- Overview
Subaccount Information Section
- Purchase Information Section
- Transactions Sub-Content Link
Adding a Subaccount Transaction
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Overview
Note: For indexed universal
life (IUL) policies, this content link is labeled Indexed Account instead
of Subaccounts.
When [viewing
a policy](/help/pro/smartpolicies/-/viewing/and/managing/policies) (variable life/annuity policies only), the user can access
the Subaccounts content link to manage the policy's underlying investments.
Note: A policy is variable
when the Variable Product option
is selected on the associated product's [Detail
content link](/help/pro/products/-/detail/content/link).
The Subaccounts content link contains several sub-content links that
the user can access to view details about the policy's subaccounts.
List Sub-Content Link
Subaccounts for the current policy can be viewed, modified, deleted
and added from the Subaccounts List.
To add a subaccount:
-
Select Menu
> New 'Policy Subaccount'
record on the Subaccounts
List to open the New Subaccount dialog box.
-
Select a subaccount from the Subaccounts
drop-down list. The options available are defined on the [product's
Subaccounts content link](/help/pro/products/-/subaccounts/content/link).
-
Complete the remaining fields. In addition
to entering details about the subaccount, the user can enter the following
information:
Trade
Date: This is a user-specified date that defaults to the
current date. It can be the date of the first purchase of a summarized
transaction. It can also be the same as the purchase date.
-
Transaction
Amount: The amount of money exchanged in the transaction.
-
Load:
The sales charge paid by an investor who buys shares in a load
mutual fund or annuity.
-
Price
Factor: All transaction types except bonds default to a
value of 1. Bonds default to a value of .01. Bonds are priced
in hundreds, not thousands. For example, if a bond with a $1,000
face (or par) value is purchased at a discount for $935, the price
is entered into the purchase window as $93.5. The Price Factor
defaults can also be modified to match that of a transaction downloading
service.
-
Transfer:
This option indicates whether the money is being transferred into
or out of the investment by this transaction.
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Click the OK
button.
Detail Sub-Content Link
The Detail sub-content link maintains detailed information specific
to the selected subaccount.
Subaccount Information Section
Note: For indexed universal
life policies, this section is labeled Indexed Account Information.
The Subaccount Information section tracks the policy number, subaccount,
CUSIP/security ID and variable annuity name.
Additional Options Section
The Additional Options section tracks whether the tax is deferred and
how the subaccount was entered.
The Transaction Roll Up field specifies what happens when the user selects
Menu > Validate
Policy option on the Subaccounts content link. Because policy subaccounts
are always tax-deferred, there are no taxable events. Therefore, the Tax
Cost field on this sub-content link and the Cumulative Tax column on the
Transactions sub-content link should always be blank and never modifiable.
The roll-up options are as follows:
-
Do
Not Roll Up: This option disables data validation for the subaccount.
Running data validation does not result in any of the fields being
recalculated. Because they are not recalculated, the following fields
can be manually modified:
-
Purchase Date
-
Initial Cost
-
Tax Cost (always blank, as policy
subaccounts are tax-deferred)
-
Purchase Cost
-
Shares
-
Shares Date
-
Price
-
Price Date
-
Current Value
-
Roll
Up Everything: This option enables data validation to recalculate
the following fields:
-
Purchase Date
-
Initial Cost
-
Tax Cost (always blank, as policy
subaccounts are tax-deferred)
-
Purchase Cost
-
Shares
-
Shares Date
-
Price
-
Price Date
-
Current Value
Note: Because these
fields are calculated by the system, they cannot be modified manually.
-
Roll
Up Current Values: This option enables data validation to recalculate
the position value based on the position shares and position price
data. The following fields can be manually modified, as they are not
recalculated through data validation:
-
Purchase Date
-
Initial Cost
-
Tax Cost (always blank, as policy
subaccounts are tax-deferred)
-
Purchase Cost
-
Shares
-
Shares Date
Purchase Information Section
The Purchase Information section tracks purchase details such as the
purchase date, initial cost, tax cost and purchase cost.
Current Values Section
The Current Values section tracks information such as the number of
shares, the price, the price date and the current value.
Transactions Sub-Content Link
Click the Transactions sub-content
link to display the transactions for the selected subaccount.
The CumlShares and CumlCost columns can be automatically filled in based
on the Transaction Roll Up option on the Detail sub-content link. These
columns use the transactions to calculate the current owned shares and
the current cost.
Adding a Subaccount Transaction
and
selecting New 'Transaction' record to open
the Select a Transaction Type dialog box.
Select a transaction type (e.g., Buy, Dividend, Fee, etc.) to open the
Quick Add Transaction dialog box and enter the subaccount transaction
information.
A quicker way to enter a Buy or Sell transaction
and select Buy
or Sell. The Sell option is available
only when there are entries listed on the Transactions sub-content link.
Liquidating a Position
If there are entries listed on the Transactions
sub-content link, the user can click the Options
and select Liquidate
Current Position to liquidate the current position.
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