Whole Life Policies in Epic

[Alice Mooney]

Hi guys
We will start entering Life policies in Epic to attach required documents. Term policies are easy since they actually have term dates. How do you enter whole life policies? Is there a year far off into the future that you use?
There will be no accounting done on these policies, just creating the accounts and adding attachments. I've got the security all figured out for HIPAA and just need to know what you guys use as an expiration year for whole life policies.

Thank you!

[Mark]

Hi Alice,

Sorry - one month later!  We stopped selling Life before I even started working here.  I think at one point in TAM we were doing what you mentioned - using a far out expiration date, but I think that got sloppy at some point.  I believe what we do now (and I just ran a book of business to see if I was right) is renew them every year in Epic.  We have probably less than 50 clients/policies though, so if you are an active Life agency, this probably does not help you.

[Alice Mooney]

Hi Mark
There is a solution for term life.
We use an SDK for our agents to export to Epic from our membership system to create clients/add sold policies or to add new policies to current clients. What we have is the ability to have the agents select the policy term in months. So for a 30 year term policy, they would type in 360 in the field and when the policy hit Epic, it will have the correct expiration date.
I don't know what they will do about whole life policies. Apparently someone else is worrying about it and now I don't have to. Wish I knew that before I posted here.

[Mark]

... someone else is worrying about it and now I don't have to.

I think I am in the same boat!