Term Roles

Term roles designate the relationship an individual(s) or entity maintains on a term policy.  

Note:  The individual(s) or entity must be set-up as a client in the system in order to be assigned a role on a policy.

Product Template Term Roles

• Owner is a required role.  There can only be one owner.

• Insured is required.  This is the person who's life is covered by the policy.

• Primary Beneficiary is a required role.  This is the person who receives the policy value in the event of the insured's death.

• Contingent Beneficiary is not required.  This is the person who will receive the policy benefits if the primary beneficiary dies before the benefits become payable.

• Payer is a required role.  This is the person (or persons) who is designated to acknowledge the monies receivable under the policy.  

• Servicing Representative is a required role.  This is the person who renders policy post-completion service to the customer.

• Writing Agent is required.  This is the person empowered to write and issue policies on behalf of his/her insurer.