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Reinstatement (cancel notice)
Reinstatement (cancel notice)
If the policy is reflecting cancel notice status it means a payment was not made by the due date and legal notice was issued giving the insured an additional 15 days to make the payment.
Access existing policy in a Cancel Notice status.
2. Process a payment within Guidewire and then click Return to Policy
3. Click on Start Transaction
4. In the drop-down, select Reinstatement
5. Description should read as Cancel Notice Payment, make sure to check ON/OFF the Reinstatement Fee (depending on the state), and enter Additional Notice Text as Cancel Notice Payment.
6. Click Start and Process
7. The policy will now show an active status. The reinstatement transaction will reflect Cancel Notice Payment was made. This description will indicate that the reinstatement was processed, and it was NOT due to a lapse in coverage but rather a payment on a Cancel Notice status
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