Oracle® Insurance Policy Administration 9.4.1.0 E23637_01

# Death Notification

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

To add this activity, open a term policy and select Add Activity from the Secondary menu.

Add Activity Link on Policy Screen

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 the OK button is selected, the activity will be listed on the Activity screen. Click the lightning bolt icon to process the activity and spawn the Death Claim activity.

Add Activity Window with DeathNotification Activity Selected

The Death Claim activity is system 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 activity takes the Death Benefit calculated by the Death Claim activity and improves that amount with interest from the date of death.

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