PartyPatchRequest
objectThe unique ID to track transaction request across all systems
Example:5df63b47-54fc-4905-a8ff-e1c5f12e667d
Date the Party was added to the Policy
Example:2023-01-01
Show Child Parameters
TransactionResponse
objectThe unique ID to track each transaction request across all systems
Example:864e43a0-2c2f-4a11-9d7f-69ed40115066
A unique identifier assigned to every transaction within the system, used to track and reference individual actions such as premium payments, policy updates, or claims etc
Example:337
Example:1
Details
objectTransactionErrorResponse
objectExample:2023-01-01T12:00:00.000Z
The unique ID to track each transaction request across all systems
Example:864e43a0-2c2f-4a11-9d7f-69ed40115066
Show Child Parameters
Attributes
objectCarrier Code
Example:carrierCode
Product Code
Example:productCode
The Product Type refers to the specific category of life insurance or annuity based on its structure, premium flexibility, cash value potential, and investment options. It determines how the policy functions, how premiums are paid, and whether the policy includes a cash accumulation component
Example:productType
The Product Name refers to the specific life insurance or annuity product selected by the contract owner at the time of policy issuance. It identifies the type of coverage, policy structure, and key features associated with the contract
Example:planName
Renewable Indicator
Example:renewableIndicator
Qualified Plan Type
Example:qualifiedPlanType
Pay To Year
Example:payToYear
The Policy Year refers to the number of years that have passed since the policy’s effective date. It is used to track policy duration, benefits, premium schedules, surrender charges, and other contractual provisions
Example:policyYear
The Policy Months refers to the number of months that have passed since the policy’s effective date. It is used to track policy duration, premium schedules, benefits, and contractual provisions on a monthly basis
Example:monthOfYear
The Policy Number is a unique identifier assigned to a life insurance or annuity contract by the insurance carrier. It serves as the official reference number for tracking, managing, and servicing the policy throughout its lifetime
Example:policyNumber
The Policy Status refers to the current standing of a life insurance or annuity contract, indicating whether it is active, inactive, lapsed, or terminated. The status determines whether the policyholder has coverage and whether policy benefits remain in effect
Example:policyStatus
The Issue Type refers to the classification of how a life insurance or annuity contract is issued, based on underwriting approval, policy structure, or specific issuance conditions. It determines whether the policy was fully underwritten, simplified, guaranteed issue, or part of a group plan
Example:issueType
Residence State
Example:residenceState
Jurisdiction
Example:jurisdiction
Effective Date
Example:effectiveDate
Application Signed Date
Example:applicationSignedDate
The Policy Issue Date, also known as the Policy Launch Date, is the date when the insurance company officially issues the policy to the client. This occurs after the application is approved, the insured accepts the offer, and payment information is provided. It marks the formal activation of the policy and triggers policy delivery
Example:issueDate
The Contestability Start Date refers to the beginning of the contestability period, which is the time frame in which an insurance company can investigate and deny a claim if material misrepresentations or fraud are found in the application
Example:contestabilityStartDate
The Contestability End Date is the date when the contestability period expires, meaning the insurer can no longer deny a claim based on misrepresentation or omission in the application, unless fraud is proven
Example:contestabilityEndDate
Policy Delivery Receipt Date
Example:policyDeliveryReceiptDate
The Initial Payment Amount Expiration Date refers to the deadline by which the initial premium payment must be made to keep the policy offer valid and ensure the policy goes into effect., if not received Policy will be Canceled due to no Premium Set at Issuance
Example:initialPaymentExpirationDate
The Next Policy Anniversary Date refers to the upcoming annual recurrence of the policy’s start date. It is based on the Policy Start Date and marks key policy milestones such as premium due dates, cash value updates, policy renewals, and benefit adjustments
Example:nextAnniversaryDate
The Next Policy Monthiversary Date refers to the same day of each month that corresponds to the Policy Start Date, marking the monthly recurrence of the policy. It is used for monthly premium payments, cost deductions, cash value calculations, and interest crediting
Example:nextMonthiversaryDate
Previous Anniversary Date
Example:previousAnniversaryDate
Previous Monthiversary Date
Example:previousMonthiversaryDate
Expiry Date
Example:expiryDate
Termination Date
Example:terminationDate
The Cost Basis Date refers to the date on which the cost basis value of a life insurance policy or annuity contract is calculated. The cost basis represents the total amount of after-tax money contributed to the policy or annuity and is used to determine the taxable portion of withdrawals, loans, or payouts
Example:costBasisDate
The Cost Basis refers to the total cumulative amount of after-tax premiums paid into a life insurance policy or annuity contract. It represents the non-taxable portion of withdrawals, policy loans, or surrenders, ensuring that policyholders are only taxed on gains above this amount
Example:costBasis
The Currency refers to the system of money in which a life insurance or annuity contract is denominated and transacted. It defines the monetary unit used for premium payments, policy benefits, withdrawals, and payouts
Example:currency
The Claim Approval Date is the date when an insurance company officially approves a claim for payment after verifying the claim details, policy coverage, and required documentation
Example:claimApprovalDate
The Certified Received Date refers to the date when the insurance company officially receives the certified death paperwork (such as a death certificate) required to process a life insurance claim. This date marks the beginning of the formal claims verification process
Example:certifiedReceivedDate
Loss Report Date
Example:lossReportDate