InsPolicyService:initiateLapseGracePeriod

This service initiates a grace period on a policy, lapses a policy, or does nothing to a policy, depending on factors of the policy.

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

Class: InsPolicyService

Method: inititateLapseGracePeriod

How It Works

Takes the assetId and retrieves the policy.
Retrieves the Status, GracePeriodStartDate__c, GracePeriodEndDate__c, and ExpirationDate__c values from the policy.
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.
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.
Returns the Id of the created transaction in the transactionId field.

Option	Description
`assetId`	Required. `%theIdYouAreLookingFor%` The Id of the policy to initiate grace period or lapse.

Option

Description

assetId

Required.

%theIdYouAreLookingFor%

The Id of the policy to initiate grace period or lapse.

This service does not require any input JSON.

Output JSON includes the following key and its value:

{
    "transactionId": "a3g5A000000YRPpQAO"
}

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