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