A.1.7.3 Insurance Modification
You may rectify possible errors resulting from incorrect information entered on the INSURANCE ADDITION transaction (such as an incorrect premium account) with the monetary transaction INSURANCE MODIFICATION.
When you post the INSURANCE MODIFICATION transaction, Oracle Financial Services Lending and Leasing re-computes the repayment amount using new premium amount and adjusts advance/principal balance on Line of credit and Line of credit receivables.
Table A-18 To modify financed insurance information
| Transaction | Parameters |
|---|---|
| Insurance Modifications | Txn Date |
| Insurance Type | |
| Policy Effective Date | |
| Premium Amount |
Parent topic: Financed Insurances