Life Insurance

Life Insurance

Overview

Actions

Field Descriptions

Availability
  • Standard
  • Professional
  • Enterprise

Overview

Use the Life Insurance module to track a client's life insurance policies.

Actions

Follow the instructions below to perform tasks such as creating, editing, and exporting Life Insurance records.

To…

Then…

Create a Life Insurance record

  1. Access the Life Insurance Create form using one of the following:
    • Click Insurance > Life Insurance > Create Life Insurance from the Navigation menu.
    • Click Create New on the Life Insurance List View.
  2. Complete the Life Insurance Create Form. See Field Descriptions for information about each field. Fields that have an asterisk (*) are required; you must enter data in the field to save the record.
  3. Click Save to save the record and view its detail page, or click Cancel .

Display a list of Life Insurance records

Click Insurance > Life Insurance > View Life Insurance.
The Life Insurance List View displays.

Display the details for a Life Insurance record

Click the life insurance name in the Life Insurance List View.
The Life Insurance Detail View displays.

Edit life insurance information

  1. Access the Life Insurance Edit View by doing one of the following:
    • Click Edit in the Life Insurance Detail View.
    • Click the edit icon (pencil) associated with the Life Insurance record in the Life Insurance List View.
  2. Update the life insurance information. See Field Descriptions for information about each field.
  3. Click Save to update the record.

Suppress one or more Life Insurance records

  1. In the Life Insurance List View, click the Selection box associated with the record(s) you want to suppress.
  2. Click Suppress.
    A confirmation box displays.
  3. Click OK.
    The records are suppressed.

You can also suppress a single Life Insurance record by clicking Suppress on the Life Insurance Detail View.

Update information related to multiple Life Insurance records

  1. In the Life Insurance List View, click the Selection box associated with the records you want to update.
  2. Click Mass Update in the Actions dropdown.

For more information, see Editing and suppressing multiple records.

Duplicate life insurance information

Click Duplicate in the Life Insurance Detail View. Duplication is a convenient way of creating a similar Life Insurance record. You can change and save the information in the duplicate record to create a new record.

Export records

  1. In the Life Insurance List View, click the Selection box associated with the records you want to export.
  2. Click Export in the dropdown and follow the instructions in Exporting data.

Field Descriptions

Fields that have an asterisk (*) are required; you must enter data in the field to save the record.

Client

Click the Client to which the Life Insurance record applies on the Clients Popup List View (displays upon clicking the Selection arrow) or the list of Clients matching the character(s) you enter.

Insured Contact

Click the Contact who is insured by this policy on the Contacts Popup List View (displays upon clicking the Selection arrow) or the list of Contacts matching the character(s) you enter.

Company

Click the Company that issued the insurance policy on the Companies Popup List View (displays upon clicking the Selection arrow) or the list of Companies matching the character(s) you enter.

Policy Number

Enter the policy number issued by the insurance company.

Policy Type

Click the type of policy.

File

Click Choose File and navigate to and select the file containing a copy of the insurance policy. The file name displays in the Select File box.

Policy Status

Click the current status of this policy.

Issue Date

Click on the Date Selector to choose the date the policy was originally issued.

Effective Date

Click on the Date Selector to choose the date the policy became effective.

End Date

Click on the Date Selector to choose the date the policy ends.

Endorsements

Describe any special endorsements contained in the policy. If you prefer not to enter specific details about this insurance policy in the designated fields, use the endorsements field for a general description of the policy coverage. For example, if you track policy details in a separate system, copy and paste the policy info here.

Assigned to

By default, the record is assigned to the creator of the Life Insurance record. To change the assignment, click the user on the Users Popup List View (displays upon clicking the Selection arrow) or the list of users matching the character(s) you enter.

Description

Enter additional information about the policy.

Teams*

By default, your private team is assigned as the primary team. To change the primary team assignment, click the team on the Teams Popup List View (displays upon clicking the Selection arrow) or the list of teams matching the character(s) you enter.

To assign additional teams to the Life Insurance record click add (+) and click the team as described above. For more information on assigning teams, see Assigning Users and Teams to Records.

This is a mandatory field; you must assign a Team.

Policy Details section

Death Benefit

Enter the benefit amount.

Term

Enter the term.

Face Value

Enter the face value.

Maturity Date

Enter the maturity date.

Cash Value

Enter the cash value.

Cash Value Interest Rate

Enter the cash value interest rate.

Incontestability Period

Enter the incontestability period.

Last Ledger Date

Enter the last ledger date.

Waiver of Premium Rider

Click the checkbox if the waiver of premium rider applies.

Provisions

Describe the policy provisions.

Accelerated Death Benefit Rider

Click the checkbox if the accelerated death benefit rider applies.

Accidental Death & Dismemberment Rider

Click the checkbox if the accidental death & dismemberment rider applies.

Surrender Value section

Surrender Value

Enter the surrender value.

Surrender Value Last Year

Enter the surrender value as of the previous year.

Loan section

Loan Balance

Enter the loan balance.

Loan Interest Rate

Enter the loan interest rate.

Dividends section

Dividends

Enter the dividends.

Dividends Last Year

Enter the dividends from the previous year.

Premium section

Premium Frequency

Click how often a premium is due on this policy.

Premium Due Date

Click the Date Selector to choose the next premium due date.

Premium

Enter the premium amount.

Agent section

Agent Name

Enter the insurance agent’s full name.

Agent Phone

Enter the insurance agent’s primary phone number.

Agent Email

Enter the insurance agent’s primary email address.

Agent Fax

Enter the insurance agent’s primary fax number.

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