OAS/VAS is an advanced-technology, user-friendly Online Annuity Administration System. OAS/VAS offers improved technology within a full GUI architecture in a true n-tier Client/Server environment. OAS/VAS was developed specifically for the variable annuity market to administer all aspects of variable annuity processing. This 'best of breed' product blends technology with usability, providing solutions for increased productivity.

Features include the ability to easily add new investment funds by product and to support an unlimited number of funds per contract. All backdated processing, including undo/redo, reversals, and price corrections, are performed in an online real-time mode allowing service representatives to view the effects of corrections immediately! OAS/VAS incorporates both general and separate accounting, including the reconciliation of fund balances between the administration and investment systems.

Annuity Products Supported:

• Single and Flexible Premium Deferred Variable
  
• Single and Flexible Premium Deferred Fixed
  
• IRA, Roth IRA, Inherited IRA
  
• TSA, TSA - ERISA
  
• 401k
  
• SEP – Simplified Employee Pension
  
• Section 457, Deferred Compensation
  
• HR-10
  
• Tax Qualified and Non-Qualified Support
  

General System Functionality:

• 100% GUI Interface Using Drop-Down Calendars, List Boxes and Checkboxes
  
• Online, Real Time Processing, Including Undo/Redo
  
• Ability to Bundle and Un-bundle Rider Options
  
• Suspense Transfer and Disbursement Processing
  
• General Accounting, Separate Accounting and Accounting for Breakage
  
• Forms and Letters Generation (Quarterly Statements, Confirms, etc.)
  
• Interface to External Corporate-Wide Systems
  

Client Information Characteristics:

• Centralized Name and Address Facility
  
• Phonetic & Alpha Search
  
• Ability to Track all Contracts Tied to an Agent/Distribution Channel
  
• Multiple Company Support
  

Agency Functionality:

• Full Commission Processing, (Statements, Checks, Adjustments, Cumulative Sales, etc.)
  
• Multiple Advance, Net and Asset Based Trail Commission Rate Schedules
  
• Track and Manage Agency Debit Balances
  
• Ability to Choose Commission Options at the Policy Level
  

Policy Administration Functionality:

• Full Support for ‘Free Look’ Period and ‘Not Taken’
  
• Online Quoting for Fixed and Investment Accumulation Values, Partial Withdrawal, Surrenders, and Stepped Up Death Benefits
  
• Complete Support for Systematic Withdrawals
  
• Complete Full and Partial Withdrawal Processing
  
• All Required Minimum Distribution Derivations
  
• Automated Billing Option
  
• Death Claim Processing with Guaranteed Minimum Account Value and Enhanced Death Benefit
  
• Financial and Non-Financial History
  

Fund Processing Functionality:

• Dollar Cost Averaging (DCA), Including Bonuses on DCA
  
• Enhanced Beneficiary Benefit Rider Support
• Automated Price Correction/Price Break Processing
  
• Automatic Asset Reallocation
  
• History of Past Allocation Alternatives
  
• Interest Sweep Option Processing
  
• Electronic Funds Transfer (EFT)
  
• On Request Transfers and Asset Reallocation
  
• Market Timer ‘Mass’ Transfers
  

Actuarial and Product Set-up:

• Support Table Maintenance for Product Limits and Features
  
• Easy Fund Creation and Grouping by Market Niche
  
• Bonus Products Fully Supported
  
• Large Number of Funds Allocations per Contract
  
• Maintenance of Unit Values and Fixed Interest Rates
  
• Policy Exhibit and Reporting by State and by Year of Issue
  
• Valuation Reporting of Inforce Contracts