Policy Detail Screen |
  
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Navigation: Loans > Loan Screens > Insurance Screen Group >
Policy Detail Screen |
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The Insurance Policy Detail screen is used to view and edit information about insurance policies. Insurance policies are usually established when the loan is originated. However, if you have proper security, you can make changes to the data on this screen.
If you want to add an insurance policy after the loan has been opened, you will need to do that through the Force Place screen in CIM GOLD.
This screen stores insurance information and shows the amortization of insurance commissions, finance charges, taxes, and surcharges. Depending on the amortization method used, commissions, finance charges, taxes, and surcharges can be amortized over the life of the loan or for a specific period of time using various amortization methods.
If a loan pays off early or is canceled early, any unearned premium amounts will be refunded back to the borrower. This refund amount appears in the Amount field on the Adjustments tab of the Loans > Payoff screen, as well as in the Unearned Premium field. However, certain options may affect whether or not the borrower is eligible for a refund of insurance premiums. See the Refund Rule field for more information.
The list view table at the top of this screen displays information about all insurance policies for this loan. Click an insurance policy in the list view table to see the details of that policy.
Click to expand.
This screen should not be used to create or cancel policies, as this screen does not process any G/L debits or credits. To cancel policies, use the Loans > Insurance > Adjustments screen. To create new policies, use the Force Place screen.
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Note: Deleting a policy is not the same as canceling a policy. Delete a policy record if the policy has expired and is no longer used by the account. Cancel a policy if the customer no longer requires that insurance policy, wants to stop paying the premiums, and wants to receive any refund that is due. |
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Finance Charge Information tab
The FPSRP206 report can print both an Insurance Commissions Trial Balance and an Insurance Commissions Amortization Posting.
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Record Identification: The fields on this screen are stored in the FPIN record (Insurance). You can run reports for this record through GOLDMiner or GOLDWriter. See FPIN in the Mnemonic Dictionary for a list of all available fields in this record. Also see field descriptions in this help manual for mnemonics to include in reports. |
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In order to use this screen, your institution must:
•Subscribe to it on the Security > Subscribe To Mini-Applications screen.
•Set up employees and/or profiles with either Inquire (read-only) or Maintain (edit) security for it on the CIM GOLD tab of the Security > Setup screen.
•Set up the desired field-level security in the FPIN records on the Field Level Security screen. |
