Considering Nominee Component Assignments

Once an initial virtual component has been created the next step is to examine the nominee component assignments. Any changes to the component assignment during the cover period of the virtual component are identified and are used to split the initial virtual component into multiple, nominee specific parts.

For example, the Income Assistance component is assigned to nominee James from 13th June 2011 to 5th July 2011 and is then assigned to nominee Linda from 6th July 2011 onwards. Using this information the initial virtual component is split up, giving one virtual component for nominee James, which covers the period 13th June 2011 to 5th July 2011 and one virtual component for nominee Linda, which covers the period 6th July 2011 to 29th July 2011.