| 1. | You have existing cover in place and a client wants more (sound of the Simpsons' Mr Burns in the background saying 'Excellent'). |
| 2. | In E-Broker we handle this by loading a new proposal in the normal way - rather than just motoring in and creating a new benefit on the existing policy. After all, you need to track the underwriting and production figures and the new benefit will have different on risk date to the originals. |
| 3. | Be mindful to choose exactly the same product as the original - this is really important. |
| 4. | Set up the proposal in the usual way and add the existing policy number. |
| 5. | In terms of premium, just log the increase in premium, not the whole new premium. |
| 6. | When the contract issues, use the new Accepted and On-Risk dates and issue as you would normally - Tip - we generally issue from our commission statements as we know this is the end of the process, rather than issuing as soon as you receive notice of acceptance. If you issue at this point without being paid, then the proposal drops off your pending list and you have no way or tracking. |
| 7. | With the product and policy number being the same, the system works out that this must be an increase. |
| 8. | Rather than creating a new policy record, it adds the new benefits to the existing policy (separate benefit lines) and you end up with multiple proposals and just one policy record. |
| 9. | It also increments the modal premium by the new premium amount. |
| 10. | Log your commission for the increase in the normal way. |
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