Deposits in policy change and reinstatement jobs

Policy-change jobs and reinstatement jobs recalculate the default deposit requirement based on the change in premium. In the PolicyCenter user interface, you can override the deposit percentage. When the job binds, PolicyCenter resends the full deposit amount to BillingCenter. This value is the total deposit amount required for the policy period, not the change in the deposit value.

When BillingCenter receives the deposit amount, BillingCenter updates the existing collateral requirement. There is only one active cash collateral item for each policy period at any one time. If the insured paid money toward the collateral requirement, the payment transfers to the current requirement.