Transfer return premium

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

To 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 select the Transfer button. 
    • The Transfer of Payment dialog box will open.
  3. By default, the This Policy radio button will be selected and display the policy ID of the policy that the return premium is currently applied to.
  4. Select the row of a policy displayed in the policy list or use the Search box to locate the policy you want to transfer the return premium to. Select the row of the policy.
    • When you select a policy, BriteCore automatically selects the Another Policy radio button.
  5. Select Done. 
    • The return premium will automatically be removed from the return premium queue and applied to the selected policy.

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 a credit to the oldest debit. Choosing a specific term to apply the refund is not currently available. 


To transfer return premium from one policy term to another policy term with a debit:

  1. 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.
  2. Navigate to Policies > Payments > Return Premium.
  3. In the Return Premium queue, navigate to the return premium you want to transfer and select the Transfer button. 
    • The Transfer of Payment dialog box will open.
  4. By default, the This Policy radio button will be selected and display the policy ID of the policy the return premium is currently applied to.
    • Although the transfer will be applied back to the same policy, the return premium must be transferred by choosing Another Policy radio button.
  5. Select Another Policy radio button. In the Search box, type the policy number the return premium was issued from and will be transferred back to.
  6. Select the row of the policy displayed in the policy list. 
    • Make sure the same policy number is listed next to “This policy” radio button and “Another Policy” radio button.
  7. Select Done. 
    • The return premium will automatically be removed from the return premium queue and applied to the policy term with the oldest debit.


Notes on all return premium transfers:

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 #.

The Notes screen of the policy the amount was transferred from will contain the following note:

Return Premium Transfer

Premium Transferred to Policy #.