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Policy Management
Overview
Environment and Features
Daily Tasks
Monthly Tasks
Quarterly and Annual Tasks
Services
Evaluation and Proposal
Conversion and Training
Continuing Support
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Monthly
Tasks
At the
close of business each month, the system examines the active data base
to perform monthly tasks:
-
Premium
and Dues Billing - if billing is done from the home office.
-
Termination
Processing - certain action is taken when a policy become
delinquent, when the premium paying period is reached, or when the
coverage termination period occurs.
-
Commissions
- calculates commissions and prints commission statements and
reports.
-
Customized
letters to policyholders (lapse warnings, lapse notifications,
policy status changes, matured endowment options, etc.)
-
Audit
reports (statistical, financial)
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Exception
reports to branch secretaries
-
Exhibit
of Insurance and Annuities
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