Split a Policy

Productivity Tip

Marriage splits, kids hitting 21 on medical contracts and so on, often require one party to be taken off a contract, leaving the original contract in place for the remaining lives. Two options here depending on whether it is the Primary or Secondary life who is being taken off the contract.

Split off Secondary Life

1.	This is the situation where the secondary life (i.e. not primary) is being split off and the policy is cancelled, replaced or renumbered.

2.	The Primary policy is basically unchanged in terms of who is paying premiums etc...

3.	Start with the primary life's policy.

4.	In the multiple policy window, select the life to be removed and click delete, or right click the person's line and choose delete.

5.	Accept the delete message.

6.	The Remove / Join member box now comes up.

7.	Select a status for the split off policy - say cancelled in this case. Add a cancellation date and a note regarding the split.

8.	The note is inserted in both the Primary and Secondary live's Journals.

Split off Primary Life

1.	Here we have the situation where say the Primary Life is being cancelled and the Secondary Life then needs to become the Primary.

2.	We need to end up with the Secondary Life paying premiums etc...

3.	Start in the Primary Life and uncheck the Multiple Policy check box.

4.	Accept the message to split the policy. The Remove / Join member window appears.

5.	Set the policy status, cancelled date, add a note regarding the split and select a new Primary Member.

6.	You are now taken to the proposal screen for the new Primary Life.

7.	Add the new payment details and payment frequency etc... and save.