Insurance Policy Transactions and Transaction Details generated by reinstatement represent the financial impact of restoring the policy and its associated components and serve as the bridge to billing.
Required Editions
Available in: Lightning Experience
Available in: Professional, Enterprise, and Unlimited Editions where Insurance Brokerage is enabled
Overview
Conceptually, reinstatement transactions capture the delta between the canceled policy state and the reinstated policy state.
Transaction amounts reflect the reinstated portion of the policy term
Transaction details include premiums, fees, taxes, and commissions across policy components
Billing schedules and invoices are created after sending the transaction to billing
Billing Behavior
Billing supports upfront, term-based, and milestone billing
Billing starts from the reinstatement date
Previously canceled periods aren't billed unless covered by the reinstatement
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