Lapse and Revival Follow-up for Life Insurance Advisors
This module lists policies that are past their due date, in grace or already lapsed. Each call, promise and revival request is noted against the policy until it is paid or closed.
What the follow-up list holds
Who works the list
The servicing desk calls first, and the advisor takes over where a longer conversation is needed with the client. The owner reads the list to see which advisors have clients slipping. A team leader sees only the advisors under them. No private lists.
Where it leads next
A premium paid in the grace period goes to the receipt record and clears the list. Once revived, the policy returns to the premium calendar with its new status. If it stays lapsed, it is closed with the reason noted, which later explains commission that never arrived.
What the agency sets up
- Grace period for each plan, as the policy terms state it
- How soon after a due date the first call is expected
- Reasons for lapse that the desk can pick from
- Who may close a lapsed policy and who must approve it
What this module does not do
It does not reinstate a policy. Revival conditions, such as a health statement or a late fee, are set by the insurer, and the record here is only the advisor’s tracking of that request. Whether a client should revive or buy afresh is for the advisor to discuss.
Frequently asked questions
How does the system know a policy is in grace?
Both the due date and the plan’s grace period are held. Anything unpaid inside that window is listed as in grace.
Can a revival request be followed here?
Yes. The requirements the insurer asks for are listed against the policy, with a tick as each one is sent.
Does it send a message when a policy lapses?
Only if the agency chooses so. The wording and the channel are agreed with you, and some agencies prefer a personal call.
Are closed lapses kept?
Yes. A lapsed policy stays on the client’s record with its final status and the reason noted.
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