Oracle® Insurance Policy Administration 9.1.0.0.0 E15811-01

# Death Notification

Death Notification is the transaction that is used to place a term policy in a Death Pending status. This will stop billing, systematic withdrawals or bank draft activity. It’s a user-generated transaction that triggers the death claim activity.

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

Select Death Notify from the activity drop down box. Enter the date of death and select the payout option from the drop down menu. Select the Yes radio button if the death was accidental. After you select the OK button, the activity will be listed on the Activity screen. Click the lightning bolt icon to process the activity and spawn the death claim activity.

The Death Claim transaction is auto-generated and calculates the death benefit for the policy given its current state and level of debt. It deletes all pending activities and changes the status to Death. Processing this activity will spawn the Death Claim Payout activity.

The Death Claim Payout transaction takes the Death Benefit calculated by the Death Claim transaction and improves that amount with interest from the date of death.