Policy Activities

When a policy is first created it remains in pending status until the preliminary activities have been processed.  Term Life Product Templates require that Coverage Calculation, Premium and Issue be processed before the policy can become active.  Refer to the Term Policy Life Cycle for more information about term activities.  

 

Variable Annuity Product Templates require that Submit, Initial Premium and Issue be processed before the policy can become active.  Refer to the Variable Annuity Life Cycle for more information about annuity activities.

 

Also, before processing the preliminary activities a Suspense Record must be created and at least one Segment must be assigned to the policy.  

 

Steps to Add an Activity

  1. Search for the policy.

  2. Select Activities from the Left Navigation menu.  

  3. Select Add Activity from the Secondary menu.  An activity window will open.

  4. Select the activity from the drop down list.  

  5. Enter the activity details.

  6. Select OK.  The activity list will display and the new activity should appear at the top of the list.

  7. Select the lightning bolt ligthning bolt icon for processing activities next to the activity to process it.  If the activity processes successfully then the lightning bolt icon will disappear and the activity will be listed in normal black font.

 

Note:  If the activity fails to process then a warning icon Warning icon will appear to the right of the activity.  Click the warning icon for an explanation of the failure.

 

Activity window with new activity selected and OK button highlighted

Add Activity Window

 

 

Steps to Recycle or Redo an Activity

  1. Select the Recycle Recycle button button next to the activity to redo.

  2. Re-enter any necessary activity information.  Two activities are created:  a reversal activity and a new activity.

 

Deleted activity with two activites that replace it.

Activity and Reversal Activity

 

  1. Select the lightning bolt icon next to the activity that will reverse the original activity.  Once it processes, the old activity and the reversal activity will disappear from the Activity screen.  The original activity and the reversal activity can be seen if the shadowed and reversals filters are checked on the Activity screen.  

  2. Select the lightning bolt icon next to the activity that will replace the original.  It will move from pending to active status.

 

Note:  If an activity is recycled that spawned other activities then those activities will be recycled as well.