InsPolicyService:initiateLapseGracePeriod

This service works with the Vlocity Policy (Asset) object, not the Salesforce FSC InsurancePolicy object.

Class: InsPolicyService

Method: inititateLapseGracePeriod

How It Works

1. Takes the assetId and retrieves the policy.

2. Retrieves the Status, GracePeriodStartDate__c, GracePeriodEndDate__c, and ExpirationDate__c values from the policy.

3. If Status = Active and the GracePeriodStartDate__c is greater than or equal to today:

   1. Updates the Status to Pending Lapse.

   2. Creates a new transaction on the policy of type Initiate Grace Period with effective date = GracePeriodStartDate__c.

4. If the Status = Pending Lapse and the GracePeriodEndDate__c is greater than or equal to today:

   1. Updates the Status to Lapsed.

   2. Sets the OriginalExpirationDate__c of the policy to ExpirationDate__c.

   3. Sets the ExpirationDate__c of the policy to today.

   4. If the policy has a Billing Account the BillStatus__c on the Billing Account is set to Terminated. Otherwise, the BillStatus__c on the policy is set to Terminated.

5. Returns the Id of the created transaction in the transactionId field.

Remote Options

Input JSON

This service does not require any input JSON.

Output JSON

Output JSON includes the following key and its value:

• transactionId: Id of transaction record created

{
    "transactionId": "a3g5A000000YRPpQAO"
}