What is a life cycle policy?

In: Insurance, Life Insurance

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Life Cycle Policy

Systems, processes and procedures are all used by the staff responsible for policy processing. Here, new policy processing includes all functions from new policy data capture, through underwriting and rating to policy issue. Policy maintenance wraps the policy change and endorsement steps and extends to renewal, cancellation, reinstatement etc. Management, statistical and regulatory reporting are components too.

First answer by ID0000000000. Last edit by Crystal. Contributor trust: 1517 [recommend contributor]. Question popularity: 241 [recommend question]

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