Insurance Policy Type Details

Purpose

Allow the setup of the type of insurance that will be financed and rules applying to those policies

Access

Field	Explanation
Insurance Commission Transaction Type	If commission is payable on this policy type [F2] to the Commission Earned Insurer transaction type
Rebate Type	Nominate the rebate method to be used on early termination This will generally be defined by legislation for the type of insurance being provided Credit related insurance and Payment Waiver have to be rebated using the Rule of 78 Warranties have to be rebated using the Straight Line method
Renewal Letter Required	The effect of this will be that Insurance Policy Renewal letters will be produced for policies whose policy types have this option checked The renewal letters are generated via the Insurer Menu option Create and Print Insurance Renewal Letters

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