Overview
By default, BriteCore moves a policy into cancel-pending status for non-payment if payment is not received by the due date.
For example, a policy with a due date of 5/18/24 would enter non-pay cancel-pending status when the system runs the non-payment process between 12:01 AM and 2:00 AM on 5/18.
To address this, the advanced setting allow-due-date-grace provides a grace period by delaying the non-payment cancellation process for policies with a due date matching the process date.
How It Works
When the allow-due-date-grace setting is set to True, the system will not move a policy into cancel-pending status for non-payment on the due date. Instead:
- Policies with a due date of 5/18 will remain active during the 5/18 processing.
- If payment is not received by 5/19, the policy will enter non-pay cancel-pending status when the process runs on 5/19.
This setting allows insureds to make payments on the due date without being flagged for non-payment, enhancing flexibility in payment processing.