Oracle® Insurance Policy Administration 9.1.0.0.0 E15811-01

# Policy Cancellation Request

Policy Cancellation Request is used when the insured wishes to cancel the policy due to various reasons. This transaction is user generated. Once the transaction is processed, it spawns the billing stop/bank draft stop transaction and the policy cancellation transaction.

Policy cancellation is spawned from policy cancellation request transaction. This is a system generated transaction that cancels the policy and changes the policy status to cancelled.

To add this activity, open the term policy you are working with and select Add Activity from the secondary menu.

Select Policy Cancellation Request from the activity drop down box. Then enter the paid to date and select OK. The activity will be listed on the Activity screen with a lightning bolt icon next to it. When you click the lightning bolt icon the activity will process.