Navigation:  Loan Screens > Insurance Screen Group > Policy Detail Screen > Policy Information tab > Insurance Information field group > Earned Premium

Entry: User, numeric

F/M: Yes

Mnemonic: INWAAMT

Screen: Loans > Insurance > Policy Detail > Policy Information tab

 

Use this field to indicate the amount of the original premium that has been collected since the date the selected insurance policy was opened.

 

This field is typically calculated with monthly loan payments. This value is the difference between the Original Premium and Unearned Premium amounts. In order for this field to properly calculate, the following fields must contain information: Original Premium, Policy Term, Policy Effective Date, and Amortization Method.