Issue return premium to contact not on the policy

If an insured dies and the cancellation of the policy results in a return premium, the return premium may need to be issued to a contact not listed on the policy.

There are two methods you can use to issue the return premium to a contact not listed on the policy.

Method 1

  1. Issue the return premium to the insured.
  2. In your general ledger, modify the recipient’s name to the appropriate contact.
  3. In BriteCore, access the Notes screen of the policy and add a note to document this transaction.

Method 2

  1. Prior to cancelling the policy, create a revision or endorsement and add the appropriate contact as an Additional Interest.
  2. Process the cancellation.
  3. Navigate to Policies > Payments > Return Premium > Return Premium Queue.
  4. Locate the return premium and update the recipient’s name to the Additional Interest.
  5. Export the record to your general ledger.