Transfer return premium

You can transfer a return premium from one policy to another or from one policy term to another.

Transfer return premium from one policy to another

1. Navigate to Policies > Payments > Return Premium.
2. In the Return Premium queue, navigate to the return premium that you want to transfer, and then select Transfer.

   Note: By default, This Policy will be selected and display the policy ID of the policy that the return premium is currently applied to.

3. In the Transfer of Payment dialog box, in the policy list, select the row of a policy you want to transfer the return premium to, and then select the row of the policy.

   Note: When you select a policy, BriteCore automatically selects Another Policy.

4. Select Done.

The return premium will automatically be removed from the return premium queue and applied to the selected policy.

Additional notes:

• A credit can be transferred between terms when a credit or zero balance exists on one term and a debit on another.
• This transfer between terms is functional because the system will always apply credit to the oldest debt.
• Choosing a specific term to apply the refund is not currently available. 

Transfer return premium from one policy term to another with a debit

Note: Issue a Return Premium from the policy term that includes a credit. If the policy term has a zero balance, the refund support tool can be used.

1. Navigate to Policies > Payments > Return Premium.
2. In the Return Premium queue, navigate to and select the return premium you want to transfer.
3. In the Transfer of Payment dialog box, select Transfer.

   Note: By default, This Policy will be selected and display the policy ID of the policy that the return premium is currently applied to.

4. To apply the transfer back to the same policy, select Another Policy.
5. In the Search box, type the policy number the return premium was issued from and will be transferred back to, select the row of the policy displayed in the policy list, and then ensure the same policy number is listed next to This policy and Another Policy.
6. Select Done.

The return premium will automatically be removed from the return premium queue and applied to the policy term with the oldest debit.

Additional notes:

• The system will automatically generate a note in the Notes screen of the policy the amount was transferred to and the Notes screen of the policy the amount was transferred from.
• The note will include the username of the user who completed the transfer and a timestamp of when the transfer was created.
• The Notes screen of the policy the amount was transferred to will contain the following note:

  Return Premium Transfer

  Premium Transferred from Policy #.