Need help in Fast Formula for Benefit Beneficiary selection to be mandatory

Summary

FF complies successfully. However, it is not working as expected.

Content

I am trying to write a Fast Formula to throw error when employee does not designate or select beneficiary for the plan. It throws error message even if waive coverage is selected. 

Please advice why the error message pops up when the plan selection is waive coverage?  Any help is appreciated!

 

DEFAULT_DATA_VALUE for BEN_PEN_PL_NAME_TN is 'My-Default'

DEFAULT_DATA_VALUE for BEN_PEN_OPT_NAME_TN is 'My-Default' 

DEFAULT_DATA_VALUE for BEN_EXT_BNF_BNF_FULL_NAME IS 'XYZ'

SUCCESSFUL='Y'

ERROR_MESSAGE=' '