When policies in Simfuni have covers with an expiry date, the system will automatically handle the expiration.
Calculating Expiry Dates
Simfuni calculates a cover's expiry date based on the product configuration. This may be based on age (e.g. cover is in force until the client reaches age 65) or on time (e.g. cover is valid for 7 years from the date the policy was issued).
As expiry dates are set at cover level, a policy may contain covers with various different expiry dates.
- If all covers within a policy have expired, then the policy will automatically expire and be cancelled on the expiry date.
- If just one cover has expired, but there are others within the policy that are still active, then the policy will stay in force.
Expiry Comms
There are two separate comms that can be configured to generate on policy expiry.
- Notification of upcoming expiry, which is generated in advance of policy expiration. The generation of this is based off the renewal notification days (the number of days prior to renewal that your organisation has specified a renewal notification should be generated) + 1 day. This is to ensure a policy is always checked for expiring covers before it renews, and a client never receives a renewal notification for an expiring policy.
- Policy cancellation, which is generated on the day that all covers in the policy expire and the policy is automatically cancelled.