A.1.7.1 Insurance Addition
You can add financed insurance to an existing account with the INSURANCE ADDITION transaction. This transaction adds insurance premium amount to advance/principal balance on the Line of credit and adjusts the Line of credit receivables accordingly. The transaction also triggers the process to re-compute repayment amount for Line of credit. After you post the transaction Line of credit will be billed for newly computed payment amount and will be considered for delinquencies and fees calculations based on information on the Contract link’s Contract screen. The newly added A-22insurance information can be viewed on Customer Service drop-down link’s Insurances link.
Table A-16 To add financed insurance
Transaction | Parameters |
---|---|
Insurance addition | Txn Date |
Insurance Type | |
Single/Joint | |
Insurance Mode | |
Insurance Plan | |
Company Name | |
Phone #1 | |
Extn #1 | |
Phone #2 | |
Extn #2 | |
Policy # | |
Policy Effective Date | |
Premium Amount | |
Expiration Date | |
Primary Beneficiary | |
Secondary Beneficiary | |
Comment |
Parent topic: Financed Insurances