When the Premium Notification batch job runs, the system will find the Schemes for which there is a Collection Instruction with a Collection Method of INDIVIDUAL DO.
When the JU3UB_INCR Notification Extracts Batch Job runs, the system will read the value for Percentage on the Scheme Parameter, or if not found the Global Parameter with a Parameter Type of NOTICE DAYS and find the Membership Payment Detail records for the Membership for which the Membership Status is LIVE and for which the value for Frequency is ANNUAL and for which the Policy Anniversary Date (see definition below), is equal to the current date plus the value for Percentage on the Scheme Parameter or Global Parameter with a Parameter Type of NOTICE DAYS.
Note:
The Policy Anniversary Date is the Payment Day and the month of the Date of Commencement and the relevant year e.g. if the Payment Day is 15, the Date of Commencement is 01/01/2015 and current date is 25/11/2015 then Policy Anniversary Date is 15/01/2016.
The system will read the value for Type of Increase on the Membership Payment Detail record and if it is not ANN ESCALATION then the follow data will be extracted for each Membership and a Premium Notification Report will be created:
· Membership Reference Number
· Surname
· Initials
· First Name
· Date of Birth
· ID Number
· Premium Amount
· Premium Due Date
The system will read the Document Template with a PDF Process Type of PREM INCREASE and a Sub-Process Type ANN PREM NOTICE and create a PDF document for each Membership.
If the value for Frequency is MONTHLY or ANNUAL and the value for Increase Type is ANN INCREASE, the increased premium amount will be calculated as per the existing BJU3CB Individual Debit Order Increase batch job i.e. Regular Payment Amount on the latest Membership Payment Detail record with an Effective Date less than or equal to the Policy Anniversary Date x (1 + (Increase Percentage / 100)).
If the value for Type of Fund for the Scheme to which the Membership is linked is ENDOWMENT or INSURANCE the increase in the sum assured will also be calculated. The system will read the Benefit Package with a Purpose of VALIDATION linked to the Benefit Event Category of OTHER and Event of SUM ASSURANCE INCREASE and find the value for Percentage on the Scale linked to the Benefit Product with a Description of INCREASE PROPORTIONAL RATE. If a value is found, the system will read the Amount on the latest Member Value record with a Type of ASSURANCE DETS and Sub-Type of SUM ASSURED with an Effective Date less than the Member’s anniversary date and calculate the new sum assured amount as follows:
Sum Assured Amount x (1 + (Increase Percentage / 100)) x (Value on the Scale linked to the Benefit Product with a Description of INCREASE PROPORTIONAL RATE / 100)
The Benefit Package will be read with a Purpose of VALIDATION linked to the Benefit Event Category of MATURITY and Event Type Description of MATURITY and the system will find the To value on the Scale linked to the Benefit Product with a Description of MAXIMUM SUM ASSURED. If the Amount on the latest Member Value record with a Type of ASSURANCE DETS and Sub-Type of SUM ASSURED is equal to the To value then an increase will not be calculated for the premium or the sum assured.
The follow data will be extracted for each Membership and the Increase Notification Report will be updated:
· Membership Reference Number
· Surname
· Initials
· First Name
· Date of Birth
· ID Number
· Previous Sum Assured (Sum Assured prior to increase)
· New Sum Assured (Sum Assured after the increase)
· Previous Premium (Contribution amount prior to increase)
· Increase Amount (Amount by which the contribution has increased)
· New Premium (Contribution amount after the increase)
· Increase Percentage
· Increase Date (Policy Anniversary Date)
For the Memberships for which the value for Frequency on the Membership Payment Detail record is ANNUAL, the system will read the Document Template with a PDF Process Type of PREM INCREASE and a Sub-Process Type of ANNUAL INCREASE and create a PDF document for each Membership.
For the Memberships for which the value for Frequency on the Membership Payment Detail record is MONTHLY, the system will read the Document Template with a PDF Process Type of PREM INCREASE and a Sub-Process Type of MONTHLY INCREASE and create a PDF document for each Membership.
Note:
For the annual Endowment policies for which there is a Type of Increase of ANN ESCALATION, the notification of the annual premium due is included in the premium increase and sum assured increase letter.
A file of the PDF Documents will be created.
The system will read the value for Print Type and if it is BULK PRINT, will include the PDF file on the Bulk Letters screen.
A Service Request will be created with the following details:
· Scheme Code (Scheme Code)
· Start Date (Date on which the batch job ran)
· Due Date (Payment day date)
· Owner User ID (Batch program ID)
· Process Name (PREMIUM NOTIFICATIONS)
· Activity Name (PRINT LETTERS)